So here we are in the USA, with our own awful debt crisis, and the possibility of default and one of the two major parties is saying effectively: bring it on. Even more amazing, it is the conservative party that seeks the collapse of the global economy if they do not get their way on every single thing.
Andrew Sullivan, discussing Boehner's Economic Terrorism
Posted on 7/1/2011
Great read, check out the entire article here. Truth served:
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But I am also an adult and understand that in the American political system, this kind of package has to win support from House, Senate and president to pass. There will have to be compromise. At a time, moreover, of extreme economic pain in many parts of the country, after a period in which the successful have become relatively richer than everyone else than at any point in recent decades, the sacrifice should surely be shared. You can do this by emphasizing many more spending cuts than tax increases - something I'd favor and something that the British Tories have put into effect. But it is simply insane to believe that the deal can be only tax hikes or only spending cuts and make it through the political process.
For the GOP to use the debt ceiling to put a gun to the head of the US and global economy until they get only massive spending cuts and no revenue enhancement is therefore the clearest sign yet of their abandonment of the last shreds of a conservative disposition. A conservative does not risk the entire economic system to score an ideological victory. That is what a fanatic does. And when that fanatical faction was responsible for huge spending binges in the recent past, for two off-budget wars costing $4.4 trillion, a new Medicare benefit, and tax revenues at a 50-year low relative to GDP and tax rates below the levels of Ronald Reagan, this insistence is lunacy, when it isn't gob-smackingly hypocritical. I say this as someone who was railing against too much spending when these people were throwing money away like it was confetti. "Deficits don't matter," remember?