Take your seats, please, the curtain’s going up for the Big Finish

Since we last checked in with our heroes: Speaker Boehner, faced with his own proposal going down to defeat in the chamber he (ostensibly) leads, capitulated—he added a balanced budget provision to his plan for lowering government spending, reducing debt and raising the federal debt ceiling, to placate enough members to get the bill passed.  It worked; and as expected, and warned, the Senate rejected the plan; now Majority Leader Reid is trying to persuade Senate Republicans to let his plan come to a vote. [UPDATE 3:03 pm: The House rejected Reid’s plan before the Senate had a chance to vote on it.]

The Wall Street Journal editorial page wants Republicans to accept a plan now, and claim a victory, even if it’s one that doesn’t solve all the nation’s economic problems once and for ever.  (Why didn’t I think of that?)  An economy struggling to recover from recession doesn’t need the government to suddenly stop making some of its payments—and you can take comfort in knowing, there is a plan for who gets paid first in the event the debt ceiling is not raised by the deadline next Tuesday…the bureaucratic imperative prevails.

I still choose to believe that Congress may bring us to the edge of default but reason will prevail and the debt ceiling will be raised to prevent a default…that puts me in the company of an American conservative icon:

Socialists-7-27-11-color-640x469 

Thanks to David Horsey, seattlepi.com and Hearst Newspapers…click the cartoon to read Horsey’s commentary:

If it were not for their powerful recklessness, I would simply get a good laugh out of the alarmists on the right who see socialism in any tilt toward moderation in our politics.

(snip)

To ensure that his country does not follow Greece into a bottomless hole of debt, Tory Prime Minister David Cameron has implemented a budget balancing formula of three-to-one – that is, three parts spending cuts to one part revenue increases. These austerity measures have, not surprisingly, provoked rioting among leftists and students. Nobody in Europe would be silly enough to call this socialism.

Yet, when President Barack Obama proposes the same formula to rein in the debt in the United States, a mental riot goes off in the heads of Rush Limbaugh, Sean Hannity, the House Republican Caucus, the Tea Party and all the others who are somehow convinced Obama wants to turn America into Sweden.

Consumed by their fear of phantom socialists, these folks see politics in stark, black-and-white terms. If you are not with ’em, you’re agin’ ’em  and even the most staunch conservative risks charges of treason if he shows a willingness to bargain with the other side.

(snip)

Like ultra-conservatives of past decades, today’s reactionaries have scared themselves silly by demonizing their opponents: every liberal hates America, every Democrat is a socialist, every moderate is a dupe, every compromise is a pact with the devil. What is new is that this mindset now dominates the majority caucus in the United States House of Representatives. And because of that, there very well could be no deal to raise the debt ceiling, unless the president and the Senate choose to grant the militants everything they want.

(snip)

…to confuse the centrist economic policies of Barack Obama with socialism is as absurd as calling a conservative like Tom Coburn a RINO – Republican In Name Only. As clean cut, moral and upstanding as my fellow citizens on the right may be, I have to say they have become unhinged from economic and political reality and, in their delusion, they are about to take us all over a cliff.

In a Newsweek interview, Tom Coburn, a guy I disagree with about most things, summed it up frightening well:

“We’ve never been in this territory before. I mean, if we handle this wrong, we’re near the end of our republic as we know it.”

A tour de farce plays on!

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!

Regis and Brian’s excellent adventure (as told by Brian)

The early show on TV last night—Obama and then Boehner, repeating themselves…again—wasn’t very funny, but “The Late Show with David Letterman” was hilarious: NBC News anchorman Brian Williams came on with a mostly true story about making a trip upstate to an awards ceremony in the company of Regis Philbin.  You only have to know that Williams has a great sense of humor, that Philbin has been on television since the Garfield Administration, and that Letterman and Williams both love Reege, in that way that guys who love other guys rip on them to express affection (click the pic for the video):

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Thanks to CBS and Worldwide Pants.

Even Fred Flintstone was down with having a gay old time

Quick follow-up on the New York gay marriage vote, while waiting for a rational explanation from those in the “states’ rights” crowd who support an amendment to the U.S. Constitution that would prevent states from exerting their rights on this issue:

–hooray for the mayor of New York’s unequivocal support for gay marriage: it’s the right thing to do, opposing it is the same as opposing women’s rights or civil rights or the abolition of slavery, the law won’t require religions to perform or sanction a same sex marriage…and although people are free to belong to any religious group American society as a whole places its faith in the Constitution, not some set of religious laws.

–the Obama Administration isn’t defending the Defense of Marriage Act, and when House Republicans threaten to fight an 81-year-old woman over it even the lawyers bail out.

–the gay marriage issue helped a president win re-election in 2004; now some political pros think the Democrats can use gay marriage to hammer Republicans in 2012 because it could pull traditional Republicans away from the right-wing Christian evangelicals taking over the GOP.

–and looking into the future far beyond 2012, how many of us have even thought about how all this kerfuffle over gay rights will be viewed by our descendants?

I really don’t want to have to hear all this right now

I mean, this is June…June 2011, right?  Almost 17 months before the 2012 election?  I find that I grow fatigued already with the attention being paid to the early stages of the Republican Party’s presidential contest (I would be fatigued with the attention to the Democratic Party’s contest right now, too, if there was one).  There’s too much time before the election, and too much opportunity for things to happen—to change—for me to believe I’ve got to lock in to a candidate right now.  Yet the drone of activity continues.

It now seems clear that Rick Perry’s made up his mind to run for president.  Fine.  (I’ve been fighting off an imagined letter explaining his strategy, but I don’t know if I can fight it forever.)  One reason the Perry prospectus is positive is that the Newt Gingrich political brain trust that quit on him earlier this month was a bunch of Perry people, so they’re now available, if asked, to work on the makeover of yet another Texas governor into a national leader.  (Wasn’t the last one we sent you enough for a while?)  Gingrich says that was just a difference of opinion about how to run a campaign…wonder what his reasoning is today to explain his major fundraisers also calling it quits?

There’s been some consideration lately that perhaps Michele Bachmann is not so out of the mainstream after all; this is disturbing, too, and appears to be true to the extent that the mainstream is no longer where it once was.

But there was some not-disheartening news today in the stories on Jon Huntsman’s announcement of his candidacy for president.  He was able to make the point that he believes himself to be the best person for the job without resorting to irrational and hysterical (and untrue) accusations about President Obama.  No ominous warnings about socialism, or death panels, or usurpers and traitors, or even accusations that he doesn’t love his own dog.

“He and I have a difference of opinion on how to help a country we both love,” Mr. Huntsman said of Mr. Obama. “But the question each of us wants the voters to answer is who will be the better president, not who’s the better American.”

I don’t really want to be undergoing a presidential election right now, in the same way that I really don’t want to be undergoing a colonoscopy right now.  If I must, though, I could get used to one that sounded like that; on the other hand, I’m far too used to the sound of Americans’ religious bigotry showing its resilience, as it did again today.