It’s not as hard as I thought it would be to praise Congress for doing its job

March 21, 2013 By 2 Comments

The Senate took action first, agreeing on spending authorizations to keep the government operating until the end of the fiscal year; the House did the same the next day. Thing is, they both did what needed to be done more than a week before the drop-dead-line that would have seen the government start to shut down for lack of operating funds. How uncharacteristic of them.

In the past few years the American Congress has never missed an opportunity to run right up to the brink of any fiscal catastrophe; like the Road Runner being chased by Wile E. Coyote, it safely came to a screeching standstill in a cloud of dust just on the edge of the abyss (beep beep). To what do we owe this unusual display of fiscal responsibility? I don’t know, but I’d like to order another round.

It had become too easy and too predictable for the thousands and thousands of voices online and on air and in print to chastise House and Senate, Republican and Democrat, for failing/refusing to take care of business. I’d begun to think it was ultimately ineffective as well, but maybe–just maybe–there was still some shard of humanness left deep inside our elected representatives that was tired of being ridiculed and abused, that knew that the voices raised in criticism had a point. It’s not that I’m pleased with the details of the budget the government will operate under for the next six months, but that I’m pleased “the government” got off of its ass and made a decision with something less than the usual quotient of bluster and drama…the “sound and fury” that, as is often the case in our politics, signifies nothing.

So, good on ‘em for what they done (there, I said it; are you happy?). And fine, let them go ahead and propose future budgets, have debates and secret meetings and public hearings and horse-trading and try to persuade us all of the virtue of their ideas; that’s the way we’re supposed to try to come to a consensus on public issues. Just because I don’t have the heart or the stomach for this circus right now doesn’t mean the rest of you should miss out on the fun.

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Filed Under: Economy, Politics Tagged With: , , , , , , , , , , ,

The only “real” reality show is just too depressing to watch

February 27, 2013 By 2 Comments

Americans today “are turned off and tuned out of the sequestration mess in Washington. To a person, they are sick of the antics of those to whom they have entrusted enormous power.”  So begins David Gergen in his column today, and I can’t find anything in his argument with which to disagree.

The clowns we elected to represent us in Washington—and in many many cases, re-elected…shame on us—have failed to take care of one of the most fundamental things we send them to Washington to do: set a budget for the operation of our government.  Actually, as Gergen correctly notes, they have failed to do that one thing for four years running—so far.  Back in the summer of 2011 they set a trap to force themselves to act, promising across the board budget cuts at the end of 2012 at such a severe level that it was inconceivable they wouldn’t act to stop them from going into effect; when they still couldn’t beat that deadline they passed a law giving themselves two more months to wrap it up.  Well, here we are, two months later, but this time there doesn’t even seem to be the possibility that they can get together to give themselves more time.  The ineptitude is astounding!

It’s not unusual to have the legislative and executive branches of government  disagree about taxes or spending or any other policy issue; historically, someone on one side or the other finds a way to force a resolution.  But as Gergen points out, “we have a rare moment when both Congress and the president are retreating from their responsibilities. It’s hard to recall a time when we were so leaderless.”  The Republicans and the Democrats, the president and Congress, everyone is busy running from microphone to microphone insisting that there’s nothing they can do about it.  And the whole argument has become so tiresome that even in the face of budget cuts that threaten basic services, things we can all pretty much agree that government should be taking care of, a lot of Americans are just yawning and looking the other way.  How many times can the boy cry “wolf” before the villagers ignore the call?

Let’s hope we haven’t thrown in the towel yet, because this sequestration circle jerk isn’t the end of the line: whether these cuts go into effect this Friday or not, there’s a potential government shutdown only four weeks down the road if there’s no agreement on new spending authorization.  If we don’t dig up some leadership somewhere, what’s been going around for the last few years is going to come around again and again and again.  No winners here, America, not if we aren’t willing to find a compromise that keeps the whole thing from crashing down on our heads.

Filed Under: Economy, History, Politics Tagged With: , , , , , , , , , , , , , , , , ,

What the hell just happened here?

January 2, 2013 By 2 Comments

For someone who didn’t just go over the fiscal cliff, I’m pretty disappointed with our House and Senate and president. Not surprised, but disappointed…if I can summarize out loud, to help organize my thoughts:

Our elected leaders were faced with some $600 billion worth of automatic tax hikes and spending cuts that might or might not have any real impact in reducing the government’s debt and deficit, but which arguably might push our struggling-to-recover national economy back into a recession; they set a deadline for themselves to act a year and a half ago; then they did nothing, waiting until after the national election to bother to talk about it among themselves so the nasty details of our national fiscal crisis wouldn’t intrude on an otherwise uplifting discussion of the issues of the day; and the best they could come up with—even after the deadline had passed anyway—was a bill that raises marginal income tax rates for some well-to-do folks but not for most of us and kicks the budget cuts can down the road again?! So it’ll have to be taken up at the same time as another increase to the debt ceiling—what could possibly go wrong?!?!

It’s a plan that a majority of Republicans in the House voted against, even though—since the Bush-era tax cuts had just expired at the end of 2012—they were, technically, voting against lowering the tax rate for the bottom 98% or so of Americans.  Because there weren’t enough spending cuts.  Or in this case, any.

Which Barack Obama were Republicans negotiating with—was it the same one that the Conservative Industrial Complex consistently criticizes for being too soft, too dumb to get a good deal for America?

I try to look on the bright side: at least they finally agreed on something, even if it was only that going over the fiscal cliff would be a bad thing. Hooray…take an honorable discharge out of petty cash. (Thanks, Hawkeye.)

(Heavy sigh.)

Filed Under: Economy, Intellectual Dishonesty, Politics Tagged With: , , , , , ,

Pas de trois, denouement, house lights up

August 2, 2011 By 3 Comments

With fewer than 12 hours to spare (a lifetime, apparently, in the ways of Washington) the president has signed into law the combination debt ceiling increase/spending-and-deficit reduction compromise approved by both houses of Congress.  There, now don’t you feel much better about everything?  I mean, it only took a few months of bluster and pontificating, and a little threat to keep the nation from paying its bills on time, to get our government to pass a simple debt ceiling increase and take a small step in the direction of fiscal responsibility.

The last act of this tired drama was predictable: the loudest of the antagonists made a great flowery show of establishing their innate human goodness while talking past one another directly to those in the wings who were already persuaded of the rightness of their case…they executed the thrust and parry of choreographed stage fights which held no real threat of damage since the outcomes were predetermined…when time wound down minor characters took center stage to deliver the resolution then ceded the spotlight once again to the stars, who declaimed the lessons of the play and bid us all a good night.

Now the treasury has cash to pay the bills, and Congress is faced with continuing negotiations to find ways to cut spending and/or increase revenue (I’m hoping for the “and”) to get the government closer to living within its means.  They got there by compromising, which means no one is happy with the product:

Some in both houses are unhappy that there were no tax increases to spread the pain; some are unhappy there weren’t even more cuts to get closer to a final solution in one fell swoop; Democrats are unhappy that GOP priorities suffered few hits (but pleased that the cuts are not as severe as in earlier proposal by Rep. Paul Ryan); Republicans are unhappy about potential cuts to the Pentagon budget if future negotiations are not successful; and Tea Partiers are unhappy because there are no significant spending cuts right now and promised future cuts are contingent on the approval of future Congresses.

The proponents of restraint in government spending should see this as a great victory for their cause: it’s not everything they wanted all at once, but they got the president and Congressional Democrats to give more than would have been considered realistic just a few months ago.  That many of them do not—that they feel any compromise was an unforgiveable moral failure—is cause for concern, and the proponents of responsible behavior by grown adults in elected positions of responsibility should see this as a nightmarish premonition of things to come, if not in the budget talks later this year than the next time a debt ceiling needs to be increased.

Now, for those who have the stomach for it, we face the prospect of watching a new select committee of members from both houses and both parties work to find ways to reduce the deficit, and watching both houses debate and vote on a balanced budget amendment—all by end of the year!

How will cuts in federal government spending impact an economy still struggling to recover from recession and build new jobs?  Can we do something about overhauling tax code and/or entitlements, the real answers to a healthier federal budget?  I’m much less concerned right now with who won or lost the latest political fight than I am with a more pertinent matter: how does this deal help the country?

Filed Under: Economy, Politics Tagged With: , , , , , , , , , , , , , , ,

A tour de farce plays on!

July 27, 2011 By 2 Comments

Step by step, inch by inch, the passionless play proceeds: the House speaker proposes a new combination budget-cutting and debt ceiling-raising plan, then stands back when independent analysis shows it won’t generate the savings he promised, before the Congressional Budget Office gives good grades to the Senate majority leader’s plan (which saves little more than the speaker’s proposal).  Democrats are offering more than anyone would have expected, while some Republicans are revolting against their leadership for even thinking about going along with them, for not demanding more and more.  Who will be standing when the music stops next?

While I still expect that sanity will prevail and an agreement will be reached to prevent a crisis, nobody in Washington is doing anything about anything else and we look like a bunch of doofuses to the rest of the world as our nation moves closer to default.  So what, you ask—what the hell happens to you and me if they don’t raise the debt ceiling?

Q: Won’t refusing to raise the debt limit cut the deficit?

A. No.

Q: Do you mean that Congress can pass a budget that requires borrowing, and then argue later about whether to approve that borrowing?

A. That’s right.

Q. So, what happens to government spending if the debt limit is not raised? Will the United States default?

A. The United States will not have enough money to pay all of its bills… The possibilities range from “prioritizing” some payments and paying them first to paying bills in the order in which they were received.

The Bipartisan Policy Center analysis notes that if the government were to choose to pay the interest on its debt, Social Security benefits, Medicaid and Medicare payments, defense contractors and unemployment benefits, it could not have enough left to pay for the salaries of federal workers and members of the military, Pell grants for college, highway construction or tax refunds, among other things.

It doesn’t stop there: a default means some combination of government bondholders don’t get paid, government contractors and vendors don’t get paid, government employees don’t get paid, government benefits recipients don’t get paid, and people who don’t get paid have less money to spend so the economy slows down; government creditors demand higher interest rates on future loans and that leads to higher interest rates for we consumers on credit cards and mortgages; cities and states don’t get federal program payments and their own cash flow problems become worse.  Just the threat of default is starting to make the markets nervous.

Our country’s government spends way more than it takes in, and that needs to be corrected.  But as hard as it seems right now to make the choices that will lead to a stronger economy in the long term—and this isn’t going to be all fixed in your first six months in Washington, Mr. and Mrs. first-term Congressmember—it will only be harder if all the problems caused by a default are dumped on top of the ones we already face.  And even if there’s no default, the political playacting that both parties are consumed with right now may make financial markets skittish enough about the future that the credit rating of our country’s debt might be lowered anyway, leading to higher interest rates, etc., etc.

I’ve said this before: first, Congress needs to live up to its responsibility to prevent this totally preventable problem of potential default, then it and the administration can turn full focus on the screwed up federal budget mess that threatens our long-term financial health and security.  By the way, there’s a special tactical unit now on its way to the Capitol to help with that.

Places, please, for the big finish!

Filed Under: Economy, Funny, Politics Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
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