That tells me there isn't sufficient good faith to attempt negotiations. Negotiating with Democrats is like negotiating with North Koreans. There is no such thing as a "done deal."
I'm not a member of the Tea Party. Those folks are way too tame for my tastes. I'm a party of one. I march in Gay Pride parades, but I do so dressed as Ghengis Khan.
On a more serious note, there is no problem with potential default. Spend less and debt limit won't be exceeded. Eliminate half the Air Force and most of the Army. Bingo. Problem solved for a few years.
Everyone that has looked at this issue seriously has suggested that the only way out of it is a mix of spending cuts (across the board) and tax increases. Anyone that tells you otherwise is either a snake-oil salesman or ignorant. To figure out the correct balance of these we need statesmanship, which means compromise, which requires negotiation.
If there is a credible economist that believes we can cut our way back to a healthy economy, kindly post that cite. I would love to hear this. (of course, there are plenty of singular wack-a-doos out there, so if you want a compelling argument, post many cites.)
Last edited by upsideguy; 05-20-12 at 11:47 AM.
Unfortunately, it is easier for political leaders to posture than to take the tough decisions necessary to pursue fiscal consolidation. Yet, if fiscal consolidation is not pursued early on when the luxury of time is present for a transition, more wrenching austerity could later become necessary. Austerity would be far more painful and far more unpopular than medium-term fiscal consolidation pursued over a 5-10-year period.
I'm hoping for a government shut down... 3-4 weeks optimally.
A user's guide to smokin' pot with Barack Obama. compiled from "Barack Obama: The Story", by David Maraniss, Simon & Schuster (June 19, 2012).