Standard and Poor is siding with President Obama and saying that the GOP needs to take the deal on the table. No surprise that Wall Street has again sided with Obama. I have been saying all along that the debt ceiling will be raised, because Wall Street wants it to be raised. Even foreign papers are calling the Republicans “dangerous maniacs” and are saying that the United States is playing with fire on this absurd debate. This week, Congress had their annual baseball game, I can think of no greater metaphor for this whole debate than a meaningless game for politicians. Public opinion on whether or not to raise the debt ceiling falls on party lines, with self-identified Democrats wanting to raise it, while self-identified Republicans not wanting to raise it. However, a great number of people feel that it is a complicated issue and that they don’t fully understand it. It is very hard to blame a mother of 3 kids for not understanding the debt ceiling. The press must to do a better job at educating the public and stop playing entertainment partisan politics. The polls also show that people do not want “entitlements” to be touched. Only 20 percent of Americans, and 26 percent of Republican voters believe that the debt deal should only include spending cuts. A 50 percent tax increases, 50 percent cuts deal is the most popular. The only member of government I can see actually advocating for this kind of deal is the Independent Vermont Senator Bernie Sanders. The “socialist” (Sanders’ brand of socialism is in line with European capitalism, and not any kind of real socialism theorized by political philosophers) is the most in tune with the average American voter. What is perhaps most frustrating is that the biggest driver of the budget deficit is military spending, and that is not even part of the discussion (and is only mentioned by a few progressive or libertarian blogs). Mitch McConnell and Majority Leader Harry Reid have been hammering out a deal that would of course make major cuts in Social Security and Medicare (and not make any kind of cuts in military spending). It appears there may actually be some kind of meager tax increases though, as even Grover Norquist is wanting a deal that includes some tax increases. Joseph J. Thorndike asks if there is a liberal Grover Norquist (who keeps getting featured on CNN). The answer is obviously not. Their are plenty of plenty of Democratic donors that hold power of the Democratic party, but there is no measure of anti-corporate money that is even comparable to corporate money in politics. Its becoming pretty obvious that if the debt ceiling is not raised, neither party will allow social security payments to go out, and instead, will pay the creditors first. I actually am not totally convinced of the “Social Security Trust Fund”, as it is very probable that the politicians have taken all of the money people paid and spent it all on wars and tax cuts. However, this doesn’t mean that the government shouldn’t repay those who paid into the program to start with. The creditors of the middle and lower classes that paid into those programs have to be the first creditors paid back if the United States does default (again I don’t think this will happen). State funding will certainly be cut in this debt ceiling deal, which will lead to governors having to either raise taxes or cut social services. Most governors across the state have shown they are going to cut social services first.

 

 

Some bloggers are already saying that Obama won on this debt ceiling issue, that may not be wrong, but did we win? I think not. We lose, they win, just like every other time.

 

Cynicalrevolt

Cynicalrevolt

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