Great article up at YahooNews…
Even I- no political innocent- am still shocked at how callous and blatantly Political the GOP is…
They really don’t seem to care about the Country, only about their political power and their wealthy campaign contributors.
Defaulting on the national debt is just unthinkable. If they do not raise the debt ceiling, the entire economy will be thrown into chaos and Wall Street will go crazy. I hope their Corporate owners force the Republicans to do the right thing, but I’m afraid they are too out of control right now even for the Wall Street moneymen to bring them into line. This is scary stuff….
The Republicans have done everything they can to slow the recovery just so the economy will either collapse into crisis again or be so weak they can use it politically.
They have no interest in Statesmanship or in what is best for the Country. All they care about is what is best for the GOP, the Rich and the Corporations who fund them…
I just hope the Rich and the Corporations still have enough control to stop the GOP from destroying the economy just for Political gain. If they do play politics with the debt ceiling, even the Rich and the Corporations will feel the hurt. But the Middle Class will feel it more. As usual….
Nationally and globally, the economy is at a tipping point. The GOP, driven by invincible ignorance or cynical design – and perhaps both – is working overtime to trash the recovery with budget cuts that would drain demand from the economy – or a debt ceiling vote that could trigger a financial collapse equal to 2008, or perhaps unpredictably graver. For proof, all you had to do was listen to Mitt Romney’s announcement speech today. In it, he made a smarmy attempt to blame Barack Obama for the economic pain actually caused by the dereliction of duty by George W. Bush & Co., pain that was then prolonged by the obstruction of congressional Republicans. Those legislators contrived successfully to limit the stimulus package, block a second one, and forthwith blame the stimulus that saved us from another Great Depression for the slow climb out of the Great Recession. Never, of course, did they mention that the America’s deep deficits were generated by the fraudulent Bush war in Iraq and the unfair Bush tax cuts, which were founded on the false premise that they would pay for themselves.
The same tawdry spectacle has played out for two years and more in America’s capitol, a place that is still, despite recently fashionable worries about its destiny, the indispensible engine of the world economy. Indeed, the future of billions of human beings is determined by our elections, in which most of them have no vote. JFK once noted that the proudest boast of the ancient world was the boast of democratic citizenship: Civis Romanus sum: ‘I am a Roman citizen.’ The inescapable reality of the present world, for better or worse, is that people everywhere have to say, Civis Americanus sum. That’s strikingly clear here in Europe, in good times and bad. President Obama is a more popular, hope-giving figure than the leaders he recently visited; he’s the counterpoint to Bush and the redeemer of an American image carelessly disfigured during the first decade of the century.
And now the GOP that has moved decidedly to the right of Bush would compound his errors. Congressional Republicans could shatter the restored credibility of the United States by refusing to protect its full faith and credit by raising the national debt ceiling or by holding that essential measure hostage to the repeal of the New Deal – something that never even occurred to Ronald Reagan or either Bush president. In those Oval Offices, they regularly signed debt-ceiling increases.