Friday, July 29, 2011

Debt Ceiling Armageddon Open Thread.

Sometime between now and August 2nd, this whole debt ceiling nonsense will be resolved. There will either be a deal, or we'll be in financial freefall. Doesn't matter cause I'll be on a beach either way. My birthday is Monday (send your well wishes via PayPal) so this is your open thread for discussing all the nonsense in this ongoing made-for-basic-cable monstrosity.

I'll probably amend this post with some running thoughts of my own until I totally check out. Here's just a few.

Obama - Dude, seriously. What's the strategy here? Are you secretly working behind the scenes with Reid and Co. or have you totally checked out yourself? Doesn't matter because public perception is that you're sitting this one out (yet again!) and delegating control to Reid & Pelosi. That worked out just swimmingly during the Healthcare and Stimulus debates, didn't it?

14th Amendment Remedy - If all else fails, I suspect Obama will go nuclear and raise the ceiling on his own, flexing little used Presidential authority (which may or may not be legal in this situation). I don't see this boding well for him politically either. TeaBaggers can blame him for raising the debt ceiling without any cuts. This same scenario plays itself out again in a few months. The bond rating probably still gets lowered. It's a lose-lose, and only marginally better than doing nothing.

Boehner - If John Boehner was a pimp, I believe the operative term would be "he can't keep his hoes in check." Come on, Tan Man. It's taken you all week just to bring your flimsy plan to a vote in the GOP controlled House? F'real? Tell those Baggers to sit the heck down and shut up. Despite what they might think, nobody in "Real America" wants to see their mortgage rate skyrocket to 10% overnight. This is the personification of being strong and wrong. Tell them to "get their a$$es in line" or else. Your political future (what remains of it) is on the line here.

Hypocritical Tea Baggers - Not that this story should shock anyone, but some of the same guys whining about "fiscal responsibility" don't practice it in their own lives. Blabbermouth Illinois Congressman Joe Walsh is (allegedly) a startling $117k in arrears on his child support payments!!! Of course, he says this is "Real American" behavior. Lovely. And hardly surprising.

The Economy - Anyone notice the steady stream of bad economic reports being overshadowed by this nonsense? Is anyone focusing on jobs? Does anyone else notice that the massive cuts being suggested will only worsen the jobs numbers by sending more government workers and contractors to the unemployment lines? Does anyone even case?

Conservatives Shouldn't Rap - Please, please, please stop this nonsense.

The End Game Prediction - I think a "compromise" that cuts about $2T and raises no new revenue squeaks through at the last possible moment.

Question: What are your thoughts on this whole debacle?

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