First, President Obama’s proposal to cut federal budget deficits by $4 trillion over 12 years, compared with a deficit reduction of $4.4 trillion over 10 years in the Republican plan wasn’t acceptable by the Right.
President Obama was offering a debt ceiling deal with far less revenue than the bipartisan ‘Gang of Six’ — Harry Reid is offering an all-cuts deal that would make any Republican weep tears of joy — but, the Tea Party-led House still said no.
The problematic areas the President had issues with were the fundamental changes to Medicare and Medicaid proposed by Republicans and relying in part on tax increases on wealthy Americans. So, the battle began.
John Boehner threw together a proposal which was slammed by all parties, then scrambled to rewrite it, after which it was barely passed by the House of Representatives yesterday; the Senate promptly killed it as promised. Boehner’s time spent on the proposal was futile, knowing ahead of time that Harry Reid swore to shoot it down and he delivered on that promise.
The shift of responsibility to avoid a default, was tossed to the Senate. Harry Reid’s plan is now disregarded by the right in perhaps reciprocation. Most GOP Senators with the exception of Scott P. Brown and two other New England Republicans – have signed onto a letter saying they will vote against a debt limit proposal from Senate Majority Leader Harry Reid that faces a crucial vote.
It appears we are at a stalemate. Americans are angry at both sides, knowing the repercussions that could occur from a default.
Raising the debt ceiling has been done by presidents previous to Obama for years, but now it’s the biggest issue we’ve seen in politics for some time; this could have a domino effect globally.
Americans are being held hostage and the rest of the world is watching knowing they too will be affected by the catalyst of our looming economic doom — here in America, we know the catalyst as the ‘Tea Party-led House’.
Meanwhile, as they label themselves as fiscally Conservative, facts speak on their own; the last Republican to preside over a balanced budget was Dwight Eisenhower. After being voted in power, the Tea Party House admitted not knowing of one program they would cut – this was after they campaigned on jobs and cuts. In other words, they had no plan, just campaign promises.
Immediately after Obama was sworn in, Republicans gave protest of anything blamed on George W. Bush, but the facts are clear and of great significance to our present situation:
The Current Reagan Bush Debt is:
these three presidents have led to the creation of
in only 8.5106% of the 235 years of the existence of the United States of America.
If Republicans/Tea Partiers want America to fix what they have broken — they need to step aside and let the truly fiscally aware resolve the problem since they’ve previously been incapable of such — the extremes in which they are helping a default occur are another reason we must find this economic treason unacceptable. The blame game is played out as history proves what is factual and what is not.
We should have learned by now. After last December when Republicans extended the Bush tax cuts afforded to the wealthy by holding the repeal of DADT and unemployment benefits hostage, we should have known — they will never compromise and later it will be flaunted in our faces. This has all happened before.
What is more extreme than holding our country’s economic well being hostage — as if we needed further proof that the Tea Party was full of extremists that hang out on the fringe.
Many thanks to my good friend Novenator.
Images courtesy of kaystreet.wordpress.com