And the Winner Is.....
There is seemingly a lot of back and forth among the chattering class about who rolled whom in the recent debt crisis, as if that issue was what really mattered. It demonstrates to me the utter spectacle our politics have become, because it was so much as admitted by Tim Geitner, today that the world was so disappointed in the process that we will probably have our bond rating dropped to AA from AAA, anyway, thus raising interest rates and lending costs on consumers. When it is readily agreed that any improvement in the economy relies on consumer spending, this turn of events is obviously not helpful. So, who are the winners?
A stat that popped up last week that caught my eye related that 80% of families polled reported that they couldn't get $2,000 together within two weeks time. Without help with financing what hope does a regular American family have of replacing that old car, (or anything else) this year? For that matter, since Obama, and our new breed of Democratic politicians view "fairness," conceptually as the guy in the wheelchair has to sacrifice as much as the hedge fund manager, next year don't look so good either. We will cut our way to prosperity - no taxes allowed.
Obama boosters, (an encreasingly endangered species) intimate that POTUS, by some awsome display of political Kung Fu, has boxed the Pukes in to where the Bush tax cuts will expire unless they relent on future budget talks with regard to revenue increases. But this would happen by December 2012 - after he is gone and Mitt Romney basks in his one-term honeymoon. John Boehner might look scared, but that's his post-drunk after-glow, I think.
Everybody lost this time, except the Tea Baggers, who are so mean that they wouldn't ever admit it anyway, and like all rabid Jacobites, they won't declare victory until everybody's dead including themselves.