Showing posts with label debt ceiling. Show all posts
Showing posts with label debt ceiling. Show all posts

Wednesday, January 16, 2013

Winning the messaging wars

Our Republican friends seem to be fond of bumper-sticker ideology. Well, let's give them simple statements, and use their own catch phrases against them.

Here's my current favorite. Feel free to spread it as far as you can.
Copy it and post it on Facebook. I'm not proud. Go crazy. Take credit for it yourself, if you want. I'd just like to see it out there.

Monday, August 1, 2011

Listen up, you Teabagger bastards

For between true Science and erroneous doctrines, Ignorance is in the middle.

-Thomas Hobbes-

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“the credibility of the United States is now surrounded by uncertainty.”Said Fareed Zakaria on AC360. I don't think so. That the reigns of power have been grabbed by a malicious minority for whom the successful defense of a failed and disastrous economic theory seems damned certain. That even a very large majority of voters have become so removed from participation in decision making is so certain that the Tea Party inmates now dance with idiot glee on the site soon to become the grave of our country. For after all, has that 3% taken off the adjusted gross in excess of $250,000 not been the reason we all did so well during the Bush administration? Wasn't it the reason that private sector job growth was at 0.0% for 8 years?

What remains quite certain in my mind is that the stated objectives of the hostage takers are not to be taken at face value, yet, even if we do, the premise behind it all is a lie and smells accordingly. The real but hidden objective of course is a feudal society out of the sick dreams of Ayn Rand, where a handful of powerful people are unimpeded in their greed and everyone else is destined ( and designed) to serve them while subsisting on their crumbs and leavings. But, these scams, these lies, these frauds are still the fundamental props of that Tea Party scheme, a scheme shown to fail even more quickly than Communism does -- and we're allowing our erstwhile democracy to fall like Jericho to a mob walking in circles and blowing loud on a horn.

"The imbecile bourgeoisie of this country make themselves the accomplices of the very people whose aim is to drive them out of their houses to starve in ditches" -Joseph Conrad-

Upper bracket tax cuts do not create jobs or prosperity except for a very, very few individuals and that prosperity comes with a crushing burden on the rest of the populace. While the fake Libertarians rhapsodize about not ever asking what they can do for their country, Mexico sits there demonstrating what it's like when a handful with all the money are absolved from responsibility and often even from the law.

A healthy Capitalistic system, a system that fosters job growth requires discretionary money flowing through the hands of consumers and the "agreement" we now seem to have had forced upon us takes it away while granting favors to a privileged class who spend proportionately less on consumer goods, thus weakening the economy. We've had thirty years of the continuous failure of this long con, although, thanks to the ownership of the 24 hour propaganda system by that privileged plutocratic class, we've forgotten.

The rich man will not hire people to build anything while most of the country can't afford to buy them
and as a shark requires moving water to survive, a capitalist economy requires moving money.

Tax cuts do not pay for themselves with increased revenues. much less do they pay for the longest and most expensive wars in American history. We have now had three wars in three decades, all sold as self-funding and the lion's share of our debt is attributable to our having to borrow the funds from abroad to pay corporations who do not pay taxes rather than paying for it. The war that pays for itself in booty is a stinking lie. How much more proof will it take?

Tax cuts for the wealthy do not create jobs, nor boost the economy, nor boost revenue. Only a small fraction of the extra cash in deep pockets makes its way back into the economy and nearly all of the cash from entitlements and paychecks of middle and working class families does -- and quickly. For each Porsche or Ferrari or yacht bought with that extra tax bonus, for every stash of Krugerrands or condo in Marbella, 10 families, maybe 100 families would have bought cars and washing machines and refrigerators and school supplies and some might have bought hamburger instead of cat food. Their money returns to the economy instantly. Yet every day we hear lying voices shouting about "job destroying taxes;" shouting so loud that we forget that our most prosperous and fully employed years featured high marginal rates. With marginal rates of 90% CEO's and business owners took less in salary and plowed back more into their businesses, boosting growth. Now they suck the business dry and bitch about having to pay minimum wage to workers who can't afford to go to the doctor. And of course the huge debt for WW II was paid down quickly and the Dollar was strong and the tiny pre-war middle class expanded enormously.
Somehow, judging actions by their results has given way to endless repetition of doctrine, taken on faith.

Marginal rates below 50% seem to precede recessions. Don't believe me, look it up and the biggest debt increases have been under Republicans for a very long time -- most spectacularly under the misrule of Bush and Cheney and don't tell me you were against it at the time, you weren't.

“Reagan taught us that deficits don't matter” -Dick Cheney-

This isn't Obama's recession, it belongs to all of us and Obama's biggest "spending spree" was in his first year, operating under a budget and tax scheme passed by Bush. It's as if Congress bought the yacht under Bush and because Obama had to make the payments, pay for the dockage, maintenance and fuel, he's the spendthrift.

The biggest increase of the debt ceiling in the average American's lifetime was under Reagan, the second under Bush, 200% and 90% respectively. Both presidents created recessions. Clinton raised the debt ceiling 44% and raised taxes and we had record high employment and the longest period of expansion and prosperity - ever. Funny how you told us his success was because of Reagan and Bush the First, but on the day of his inauguration, it was "Obama's recession."

26% under Obama so he can pay "the troops" and keep our contractual obligations -- and the reeking, ignorant unwashed rabble take to the streets and storm Congress screaming about impeachment and the biggest spending president ever since the beginning of time.


"Joy to great Chaos! Let Division reign"

-Pope-

But you won't learn, you won't be honest, you won't stop protecting your fantasy, even if you have to go down with the ship you're scuttling. So keep giggling, keep your nose in the air -- keep talking about tax and spend Democrats and bleeding heart Liberals. You'll bleed too and there will be no one to help, no one to care.

Thursday, July 28, 2011

Billion Dollar Coins and Exploding Options -- oh my!

Maybe the President can't simply cite the 14th amendment and raise the debt ceiling, maybe he can -- but does the Constitution provide a paddle? Must he allow the Tea Party to shut down the government as the more mainstream Republicans attempted to do in 1995 during the Clinton administration?

You remember President Clinton, don't you, the guy that the snickering snarkmongers told us would only serve one term, who would destroy capitalism, plunge us into debt and start fake wars simply to allow him to become a dictator. I'm sure the parallels are coincidental. (wink, wink, nudge, nudge)

But Obama, even if if no Clinton, ( for better or worse) may still have options, says Jack M. Balkin, Knight Professor of Constitutional Law at Yale Law School. The Constitution has as many loopholes as the Tea Party has loonies, although some of them are as arcane as something out of the Da Vinci Code. There's the Platinum Coin gambit and the exploding Option Strategy, for instance.

Even so, all may not be lost for 14th amendment solution protagonists, like Bill Clinton and a few others says Balkin.
"If the president reasonably believes that the public debt will be put in question for either reason, Section 4 comes into play once again. His predicament is caused by the combination of statutes that authorize and limit what he can do: He must pay appropriated monies, but he may not print new currency and he may not float new debt. If this combination of contradictory commands would cause him to violate Section 4, then he has a constitutional duty to treat at least one of the laws as unconstitutional as applied to the current circumstances."

Balkin likens this dispute to recent attempts to topple the president over his ability to use the military to protect the national interest or in emergencies.
"If the courts won't intervene in the Libya affair, they probably won't intervene here."

But regardless of your opinion on the best way to beat back the barbarians, (whichever side you think they're on, Balkin's CNN exclusive interview is great reading and gives a glimmer of hope that the Constitution will do what it was designed to do, protect us.

Tuesday, July 26, 2011

Taking the 14th

"The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."

14th Amendment, US Constitution
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Now, I'm no lawyer, which means that I generally take such statements at face value and have no knowledge of what pretzels they've been twisted into by various courts in various cases, but it seems to me that if congress can't question the validity of our public debt, then congress can't refuse to pay it or more importantly say it's only valid under a certain amount authorized by Congress after they've already deemed it legal. What do you think?

I hate to bring up the constitution at a time when the Tea Bag Patriots are pretending to worship it while claiming that those who would like to actually conform to it are "shredding it" but the situation is getting serious.

Of course this whole controversy is about "taking down" the president we elected by a good margin and replacing him with a Tea Party Republican of their choice hell bent not on reducing the debt, but killing Social Security, Medicare, all forms of welfare and any protection for the public against the health insurance cartel -- and all to make sure people like me can put an extra tank of fuel into the yacht every now and then thus creating jobs in the Bahamas and Taiwan.

After all they raised the debt ceiling every year a Republican was in office since the beginning of the Reagan administration and authorized Bush's massive debt explosion like a well disciplined private army. Remember when "debt doesn't matter" was the slogan? No? Well I do.

"Obama would be impeached if he blocked debt payments"

says Rep. Steve King (R-IA) and he'd also be impeached if he invalidated the debt ceiling based on the 14th amendment, says Rep. Tim Scott (R-S.C.) Talk about a poker player with a 'tell.' Might as well lay the cards on the table.

It's all about impeachment and all about finding some flimsy excuse or forcing the president into a position where they will impeach him if he does and impeach him if he doesn't. No more revolting, I guess than impeaching one for asking his secretary not to tell his wife he was having an affair. Talk about insurrection and rebellion! No sooner did we lose the Cold War gravy train then we embarked on the Cold Secession.

President Clinton of course told us recently that he wouldn't hesitate to use the 14th to raise the debt ceiling and "force the courts to stop me." You'll remember of course the attempts to impeach him on any pretext and how the talk of the "failure of the Clinton Presidency" preceded the Clinton Presidency and how he would certainly be a one term president and how his tax policies would bankrupt the economy. They hope you won't remember, of course because we're hearing the same damned bullshit again.
"I think the Constitution is clear and I think this idea that the Congress gets to vote twice on whether to pay for [expenditures] it has appropriated is crazy.”
said Bill Clinton to The National Memo last week. No wonder slimy things like the Newt are challenging the constitutional basis for even having a Supreme Court.

Meanwhile that 3% extra tax cut I get on anything I earn over $250,000 is going to prompt me to create jobs for those struggling people now paying for the longest, most expensive wars in American history while losing their houses, jobs, medical insurance waiting for the Voodoo to kick in and save us all -- and all will be fine just in time for a Tea Party president. I can feel it in my bones.

Afternoon Update: A hat tip to Shaw at Progressive Eruptions for this graph that debunks another GOP mendacity:


The Obama administration has exercised remarkable spending restraint in accomplishing a lot, in contrast to the Bush years of gross mismanagement and fiscal profligacy.

Wednesday, July 20, 2011

The Debt Ceiling, Debt, and America's Political Hide: the Consequences of Willful Imbecility

Beaucoup ink has been expended on the economic consequences of a U.S. debt default, should that happen, but not much has been said about its political consequences. It seems to me that regarding the economic consequences, the central one is the partial loss of national autonomy that would stem from a failure to agree to keep paying our debts. Even a dinosaur can see that while it's a bad affair to have to borrow money with which to pay back a little of the money you've already borrowed, if you suddenly decide not to make the minimum payment on your credit card, so to speak, you end up ceding a lot of decision-making power to the large entity or entities who have been extending you what amount to loans on a monthly basis. But I guess the tea-timers in Congress don't know that…. It's just one of the many things they don't know.

Still, I'm focusing here on the political inferences that might be made by the powerful in this country and abroad. Wouldn't the lesson be something like, "Americans can't be trusted to elect a government that will manage their affairs competently, so their form of government is doomed, probably sooner rather than later?" The other day I was listening to an interview with some Ivy-League economist professor, and he pointed out that at some point after any default (and only after), the president might end up having to invoke the 14th Amendment "to save the Republic." That language stuck with me: the professor is right in that nothing less than the Republic's viability could hang in the balance.

Can we continue to manage our own affairs, or are we so stupid that we intend to keep sending cartoon characters to the halls of congress to do our bidding for us, and do it unbelievably badly? How do you sustain a republic with a majority of dunces and a legislative branch that is a nearly perfect symbol of that majority? How do you sustain a republic if its economy goes up in smoke thanks to the willful imbecility of a major branch of its government?

I still think saner heads will prevail and a deal will be reached, but I'm not as sure of it as I used to be. I'm not entirely certain Mr. Boehner can keep his side of the aisle from committing economic treason, or suicide (or whatever you want to call a refusal to honor the nation's debts) and thereby provoking an economic meltdown and possibly a constitutional crisis when the president has to deal with it by fiat.

Finally, as for the general right-wing strategy for dealing with the fix in which we find ourselves – namely, a very expensive government combined with our blockheaded refusal to raise the necessary revenue to sustain it -- I can offer this by way of The Wisdom of the Jurassic (what little of it there is): a capitalist economy CANNOT shrink its way out of a severe economic situation. Capitalism is like a shark: it must keep moving or it dies. Cutting guv'mint spending to the bone is therefore not the right thing to do, and anybody who thinks otherwise is dumber than a pile of particularly dumb rocks. The only way we will move from red to black at some point is if the economy generates sufficient wealth combined with a fair tax code that allows us to collect enough to pay for what we want the government to do. It would help, of course, if we stopped collectively pretending we don't want the government to do anything.

Monday, July 11, 2011

Dear Speaker Boehner

John Boehner & Eric Cantor
Imagine if Speaker of the House John Boehner received millions of emails and phone calls telling him that we're mad as hell and demand that he and the Republican party cease and desist from its efforts to sacrifice our children, the elderly, low wealth, and working class families on the altar of tax cuts for those most capable of paying taxes. Stop imagining and contact Boehner's office, (202) 225-0600, shut down his phone lines, and give McConnell a call too, (202) 224-2541. If you can't reach Boehner's office by phone, send him an email. You don't have to be in Boehner's Ohio district, you may contact him in his capacity as Speaker of the House using this link

Below is my email to Boehner that I sent today.

Speaker Boehner,
I've voted in every election since I became eligible to vote, that's over 35 years ago. Members of the U.S. Congress do not represent only their districts but the well being of the entire country. As Speaker of the House, you are responsible to all of us; the people are the government.

I am dismayed at the continual efforts of your party to support tax breaks for the wealthiest 2% in this country. I am insulted that your party continues to try and persuade the voters that this is in their best interests. The theory of trickle-down economics has not worked in spite of efforts to insist that it will benefit the people of this country. The haves continue to gain more and the have-nots continue to have less. This policy has not been shown to create more jobs.

Our country is in debt and the revenues from letting the tax breaks for the wealthy expire would add considerable monies to our coffers. The justifications offered for not allowing the tax breaks to expire are ludicrous. The loopholes that allow major corporations to avoid paying taxes are ludicrous. Your party's refusal to listen to the will of the people is ludicrous.

Your party's position is that we have a spending problem and not a revenue problem. This is beyond ludicrous. We have a deficit problem. When your expenditures exceed your revenues, it is certainly appropriate to make cuts where possible but it is also prudent to engage in methods to secure additional revenues. To put it simply, if my expenditures exceed my budget, I cut back on spending. However, I don't also refuse to take steps to increase my income.

I can't say that I will no longer vote for your party; I never have and most likely never will. I will say that the destruction that you sow if you continue with this shortsighted policy will affect generations to come, and you and your party will earn the dubious distinction of having sunk the American economy.

Speaker Boehner, work with the President, not against him.

It's time to tell these elected officials that we're mad as hell and we're not going to take it any more. Give the President your support. He cannot stop the Republicans simply because he says so. He's the President, not a dictator. To those of you still insisting that he caved on the extension of the tax rates, get off that ride. He did not have the votes to end the tax breaks for the wealthy. If he had vetoed the bill that extended those cuts, his veto would have been overridden. Yes the Democrats were in control but all Democrats were not loyal. Instead of taking a symbolic stand that would have resulted in failure any way, the President used it as an opportunity to ensure the continuation of elements of the tax code such as the earned income tax credit (EITC) that directly benefit low wealth families.

If you want to do something now, if you want to fight the good fight, then make Congress hear that we will not accept the extension of the tax cuts for the wealthy. Making a few phone calls and/or writing an email will take you all of 15 to 20 minutes. Stop talking and start doing. I can't guarantee success but if we all do nothing, I can guarantee failure.

Find and contact your senators. 


Find and contact your representatives.