American Idiots: How Washington is Destroying the Economy

Interesting article in “Fortune” magazine written by a soon-to-be ex-Republican.

Even the Business community and Wall Street are getting fed up with the Tea Party Republicans running the show in Washington and acting like spoiled children.

And these guys live in fear of the party nominating one of the extremist like Michele Bachmann or Rick Perry.  They don’t recognize the existence of Sarah Palin or little Ricky Santorum.

These are the guys who supported George W Bush and the other Republicans in the past because they served their financial interests.  They don’t give a damn about social issues.

Now, the GOP is dependent on the Tea Party followers, who are economically ignorant, racist and irresponsible and the Religious Right, who these guys despise.

They are wondering where all their friends, the Country Club Republicans, went….

I have an answer:  They are now Democrats.



The root of our current problem is that there are no grownups in positions of serious power in Washington. I’ve never felt this way before — and I’ve written business stories for more than 40 years, and about national finances for more than 20. Look, I certainly don’t worship Washington institutions. I called former Federal Reserve chairman Alan Greenspan the “Wizard of Oz” when he was known as the “Maestro.” I’ve said for more than a decade that the Social Security trust fund had no economic value and would be useless when the system’s cash flow turned negative — which I also predicted. But despite being an irreverent professional skeptic, I never felt there was a total absence of adult supervision in our nation’s capital. Now I do.

via American Idiots: How Washington is destroying the economy – The Term Sheet: Fortune’s deals blog Term Sheet.

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