Tuesday, July 26, 2011
What I Believe Is Going To Happen
Since 1979, the House of Representatives by rule has automatically raised the debt ceiling when passing a budget, except when the House votes to waive or repeal this rule. Why has it done so now? It is my opinion (I know the quote about opinions, but this is MY blog, you are free to express yours in a response or you can simply ignore it) that the Republicans have, since he was elected, had making sure that our President is not reelected their number the top of their agenda. Senate minority leader, Mitch McConnell, even stated in a speech to the senate that it is his number one priority (above all else that our country requires) to make sure that Obama is not reelected in 2012. Since that statement there is little doubt that a minority in the senate have used tactics like the filibuster and the totally undemocratic ability that a single senator can block any bill from even coming to the floor for debate and vote to stop any initiative that might in any way help Obama even if its to the detriment of the country. This is democracy?
I digress: it seems quite obvious that Republicans in both houses are doing all in their power to undermine the President. I don't know about you but does this tactic seem to you a bit unpatriotic? We had an election. Obama won by a landslide. He is our president. To do anything possible to undermine him undermines the country and is, to me, traitorous. The Democrats did not agree with Bush, but in no way did they do to him anything even resembling what the GOP is doing to Obama. When, in the history of this country, has the Speaker of the House demeaned the president with such disrespect? Boehner called Obama the late night comedian in the White House after last night's speeches. Boehner also spurted several complete lies in his rant. I defy you to find a single untruth in Obama's.
I grew up in a country that was the dominate country and economy in the world. The US dollar, until just before "The Nixon Shock" of 1971 was what all currencies were tied to. It did turn out for the best when that policy allowed the dollar and all currencies the float. This policy has saved our butts on many occasions. This country became what it was to a great extent because the two or three generations before us (our grandparents and great grandparents) spent a large portion of their wealth creating the infrastructure that is the backbone of this country. They did these things (like the electrical grid, the rail system, the interstate highways, etc, etc) knowing that they would not benefit from them. These were massive, long term programs that they knew would take generations to complete. Still they loved this country and were patriotic enough to build them. We have been the beneficiaries of their largesse. What are we doing? NADA. Greed is the religion of this generation. We spend precious little even keeping this infrastructure in working order. Bridges are collapsing, the interstate highway system is in shambles, The electrical grid has already gone down for several days a few years ago in the northeast causing true chaos. Imagine if we get a repeat (we have done little to prevent this from happening) and New York is without power for weeks or even months. Total chaos will ensue. You can even imagine things getting severe enough that after all of the animals are eaten people will start eating each other. Why is this happening? GREED!!!!! Ronald Reagan and Gordon Gecko have led the way to where we are now where greed is no longer a negative but has become "The New American Way."
I continue with my digressions so enough. Back to the first five words of this blog. I must admit that after Obama's speech last night I am not so certain that what I thought yesterday is still true, but I still believe that in may be. We will find out in 6-7 days.
Obama has proposed a 4 trillion reduction in spending. He has asked to GOP to at least throw in a modest increase in revenues consisting of the removal of tax loopholes for the top 1% or so. I believe that he has offered these cuts (including the big three) knowing that Grover Norquist has 95% of the GOP by the balls and that there is no way that they will agree to any revenues, no matter where they come from.
He also knows that Wall Street and big business has let these Republicans know that not raising the debt ceiling and defaulting on loans already spent is not acceptable. The USA will lose it's position as the safest place to borrow and invest. We will most likely slip back in a recession much worse than the one we are coming out of, or worse and this will go global.
Obama has said that he will not sign any stop gap bills to get us through the short term and, knowing that Grover Norquist rules the GOP that there is no way the GOP will accept his 4 trillion dollar in tax cuts.
I believe (I hope) that at the last minute congress will pass a bill meant to gt us through the short term with not much more than a trillion or so in cuts and no revenues and that Obama will veto it. This puts the GOP between a rock and a hard place with nothing else to do but what has been done the last 89 times the debt ceiling was raised (17 times under Reagan, 7 under W) and in an hour or so (that's all it will take) pass a single sentence bill raising the ceiling from ..... to ....., no strings attached which is what almost every president for the last 89 debt ceiling increases have gotten and is what Obama asked for six months ago.
I hope I am right. I truly hope that Obama is this good. I know that he is smart enough it is simply a matter of having the balls to pull it off. We shall see all too soon.