“They Need to Do Their Job.”
Friday, July 1st, 2011
Obama Bitch-Slaps G.O.P. Deficit Hardliners, Hell-Bent Extremists
“Before we ask our seniors to pay more for health care, before we cut our children’s education, before we sacrifice our commitment to the research and innovation that will help create more jobs in the economy, I think it’s only fair to ask an oil company or a corporate jet owner that has done so well to give up a tax break that no other business enjoys. I don’t think that’s real radical. I think the majority of Americans agree with that.”
“I’ve said to some of the Republican leaders, you go talk to your constituents, the Republican constituents, and ask them are they willing to compromise their kids’ safety so that some corporate jet owner continues to get a tax break. And I’m pretty sure what the answer would be.”
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Wednesday’s presidential press conference—the first since March—showed a combative President Obama chopping at the Republicans for a lack of fiscal seriousness and a slack work ethic. “They need to do their job” is right. And he’s doing his: defending social contract programs like Medicare and Social Security against the ideology-driven slasher nightmare of a “fiscally conservative” party that enabled a doubling of the deficit under George W. Bush (remember Dick Cheney’s “Reagan proved deficits don’t matter”?). From 2001 to 2009 the current G.O.P. leaders voted 19 times to increase the debt limit by $4 trillion. When Bush took office after Bill Clinton the budget was in the black and the Congressional Budget Office projected a $5.6 trillion surplus over 10 years. Then came the cuts.
Anyway, this Barack Obama is the man we campaigned for long ago, the fighter we feared had evaporated forever in a sweet dream of (illusory) bipartisanship. We just wish Barack had bared his knuckles like this last year when the “fiscal conservatives” were pushing like hell for the Bush tax cut extension, and had fought hard before that in the unnecessarily protracted struggle for the health care reform act, and before that for the helpful but insufficient Stimulus (ARRA) of 2009.
(Obama must have been doing something right to prompt Time writer and MSNBC political analyst Mark Halperin to remark Thursday on Morning Joe, with some prompting from Joe Scarborough, “I think he was kind of a dick yesterday.”)
Last year when Obama and congressional Democrats allowed themselves—and thus the nation—to be extorted into an extension of the Bush Tax Cuts for Millionaires, the president seemed not to grasp the terrible truth that the job-killing extremists controlling the G.O.P. are fully willing to drive the U.S. economy into severe crisis in order to inflict maximum damage on this president and his party.
The President now shows signs of understanding that the Republicans really are willing to destroy the United States’s credit and economic functionality in order to inflict pain severe enough to intensify voters’ rejection of the president and his party next November.
The same so-called conservatives who cracked the whip for extension of the Bush tax cuts for millionaires and billionaires—which will add some $700 billion more to the deficit over the next 10 years—now scream that the deficit is strangling America and killing jobs. (The chart at left illustrates the Bush tax cuts’ contribution to the deficit.) They nearly forced a government shut-down in April (how disappointed they were that the crisis was averted by Democrats’ concessions) and now are forcing another crisis. Many of them actually want a shutdown, as is happening at this moment in the stalemated state of Minnesota. (Minnesota-based G.O.P. candidates Pawlenty and Bachmann approve.)
If the U.S. were to crash through the debt ceiling after August 2, would John Boehner and Mitch McConnell’s publicly funded security detail be laid off?
Paul Krugman writes in today’s New York Times (“To the Limit”) that a failure by Congress to raise the debt ceiling is not at all unthinkable:
Failure to raise the debt limit—which would, among other things, disrupt payments on existing debt—could convince investors that the United States is no longer a serious, responsible country, with nasty consequences. Furthermore, nobody knows what a U.S. default would do to the world financial system, which is built on the presumption that U.S. government debt is the ultimate safe asset.
But wait, it gets worse:
Failure to raise the debt limit would also force the U.S. government to make drastic, immediate spending cuts, on a scale that would dwarf the austerity currently being imposed on Greece. . . . slashing spending at a time when the economy is deeply depressed would destroy hundreds of thousands and quite possibly millions of jobs.
Krugman adds, ominously:
G.O.P. leaders don’t actually care about the level of debt. Instead, they’re using the threat of a debt crisis to impose an ideological agenda. . . . what’s really going on is extortion pure and simple. As Mike Konczal of the Roosevelt Institute puts it, the G.O.P. has, in effect, come around with baseball bats and declared, “Nice economy you have here. A real shame if something happened to it.” . . . [Republicans] believe that they have the upper hand, because the public will blame the president for the economic crisis they’re threatening to create. In fact, it’s hard to avoid the suspicion that G.O.P. leaders actually want the economy to perform badly.”
Senator Chuck Schumer (D-NY)—a careful politician who is not prone to exaggeration—made the same point this week when he said Republicans’ “slash-and-burn approach” may be part of a plan “to slow down the recovery for political gain in 2012.” Schumer cited Senate Minority Leader Mitch McConnell’s surprisingly candid remark to a reporter before the 2010 midterm elections—“The single most important thing we want to achieve is for President Obama to be a one-term president.” The senior New York senator asserted, “Republicans aren’t just opposing the president any more, they are opposing the economic recovery itself . . .”