The No-Tax Pledge represents a case in point. As a Damocles sword wielded by nihilists over the heads of GOP chumps, it is the singular cause of gridlock in the current debt default debate. Here is what a debt default will mean:
- A downgrade in the credit worthiness of the nation;
- Interest rate increases on home mortgages, auto loans, student loans, and credit cards;
- Worldwide turmoil in bond and equity markets;
- Steep losses in the value of homes and retirement accounts;
- Interruptions in Medicare, Social Security and VA disbursements;
- And a crippling double-dip recession.
It reminds me of a nursery rhyme I once read to my kids …
There was an old lady who swallowed a fly.One word of advice: DO NOT send this nursery rhyme to your local GOP congress critter. In this political climate, they will play the victim card and accuse you of sending death threats.
I don’t know why she swallowed that fly,
Perhaps she'll die.
There was an old lady who swallowed a spider,
That wiggled and jiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I don’t know why she swallowed that fly -
Perhaps she'll die.
There was an old lady who swallowed a bird;
How ABSURD to swallow a bird!
She swallowed the bird to catch the spider
That wiggled and jiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I don’t know why she swallowed that fly -
Perhaps she'll die.
There was an old lady who swallowed a cat.
Imagine THAT to swallow a cat!
She swallowed the cat to catch the bird
She swallowed the bird to catch the spider
That wiggled and jiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I don’t know why she swallowed that fly
Perhaps she'll die.
There was an old lady who swallowed a dog.
What a HOG to swallow a dog!
She swallowed the dog to catch the cat
She swallowed the cat to catch the bird
She swallowed the bird to catch the spider
That wiggled and jiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I don’t know why she swallowed that fly
Perhaps she'll die.
There was an old lady who swallowed a goat.
Just opened her THROAT and in walked the goat!
She swallowed the goat to catch the dog
She swallowed the dog to catch the cat.
She swallowed the cat to catch the bird
She swallowed the bird to catch the spider
That wiggled and jiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I don’t know why she swallowed that fly
Perhaps she'll die.
There was an old lady who swallowed a cow.
I don't know HOW she swallowed a cow!
She swallowed the cow to catch the goat
She swallowed the goat to catch the dog
She swallowed the dog to catch the cat
She swallowed the cat to catch the bird
She swallowed the bird to catch the spider
That wiggled and jiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I don’t know why she swallowed that fly
Perhaps she'll die.
There was an old lady who swallowed a horse -
She's DEAD, of course.
"And a crippling double-dip recession."
ReplyDeleteBut that's just exactly what the object of all this is. They're willing to destroy not only the economy, but every measure we've taken in the last 150 years to make life better for more people so that they can bring on corporate feudalism and a country where nearly everyone is poor, sick, barefoot, pregnant and helpless.
It's as though the 14th century English lords had fomented and funded Wat Tyler, just so that they could defeat him and crush the peasantry even further.
Maybe the country's credit just has to crash. Who or what is Moody's anyway? If you watch the movie 'Inside Job' (available on YouTube at http://www.youtube.com/watch?v=iFfTcAcGjcU&feature=related if you have an hour and a half to kill) you'll find that Moody's rating system was either completely arbitrary or absolutely useless when it came to rating the collapsing financial sector. And now they and the IMF bringing Ireland, Greece, etc. to their knees. Why? To repay the same lenders that got our huge bailout. Well screw that.
ReplyDeleteAs for Grover Norquist, I caught Diane Rehm's interview of him last week. Mindnumblingly frustrating. I don't know how these people figure the country will operate without income unless they actually do shrink the government and it in the bathtub. Gee, I wonder how America would fare (and for how long) without its armed forces, given that the MIC chews up well over 50% of the US budget. See http://www.warresisters.org/pages/piechart.htm for actual spending. Hey, Grover, that might be a pretty good place to start budget cutting...
"I don't know how these people figure the country will operate without income"
ReplyDeleteYour problem is that you're rational - you think things ought to add up, schemes ought to actually work, observations should be based on reality. You'll never be a Republican with that kind of attitude.
You see, just like the Rapture, it will come any day now -- like Manna or pennies from heaven or miracle money from tax cuts and oil subsidies or tax free status for Halliburton. . .
Any day now.
As I mentioned last week under this post, the lion’s share of sovereign debt … despite massive bailouts and stimulus spending … is still the work of Republicans.
ReplyDeleteYears ago, Darth Cheney said to then Treasury Secretary Paul O’Neill: “You know, Paul, Reagan proved deficits don't matter." Of course, ‘deaficits’ don’t matter when your extreme rightwing priority is to wage unfunded preemptive wars while giving unfunded tax breaks to rich cronies at the same time. But when you are a newly elected president, and a Democrat, trying to undo the damage of the previous administration, suddenly deficits matter … at least according to their playbook which states: “The purpose of Republican profligacy is to bankrupt the nation in order to make sure there is no money left for a Democrat, whom you can then blame for the entire debacle.”
Time for me to ink the aquarium.