Shame on them
IN THREE weeks, if there is no political deal, the American government will go into default. Not, one must pray, on its sovereign debt. But the country will have to stop paying someone: perhaps pensioners, or government suppliers, or soldiers. That would be damaging enough at a time of economic fragility. And the longer such a default went on, the greater the risk of provoking a genuine bond crisis would become.
There is no good economic reason why this should be happening....
This newspaper has a strong dislike of big government; we have long argued that the main way to right America’s finances is through spending cuts. ...
And the closer you look, the more unprincipled the Republicans look. ...
Both parties have in recent months been guilty of fiscal recklessness. Right now, though, the blame falls clearly on the Republicans. Independent voters should take note.
Monday, July 11, 2011
Preview Of Coming Attractions
And so it was, not very long ago, that Eric Cantor was taking credit for an impressive jobs report, right after he was majoritized by the wave of brainwashed cluelessness known as teabaggerism. His remark was just beyond the end of the time-span shown in the above chart, which quantified job growth during the last eight months of 2010, when Democrats were still in control of the House, and the stimulus money was being spent. The chart below covers 2011 so far, since Rs gained control, began blocking everything the Ds were trying to do; and stimulus spending (sadly) ended.
I ripped the above from Washington Monthly, a blog to whose clarity and insight I aspire. But it's not as if it hasn't been apparent. The only question is whether anyone in our so-called media might pay attention to their actual job, and ask Cantor about it, directly. You know: post hoc ergo propter hoc swings both ways. Here's me, not holding my breath. And, for the record, it's not me implying the Rs have anything to do with either trend: it was their leader, Eric Cantor. So we should assume he intends to take the blame, too. Right?
Meanwhile, as if it needs any more confirmation, right-of-center The Economist has this to say: