Tuesday, January 1, 2013

"Fiscal Cliff," Fall off or Stumble over

How can the people we elect to to the three branches of government do such a supremely shitty job? Or more to the point how did it get this bad? This whole 'fiscal cliff' is total bullshit. That we are in these desperate straits now at the cusp of a new year is the direct result of a last ditch bargain to get out of the entirely manufactured crisis of a refusal to raise the Debt Ceiling. Recall centrist Democrats led by Barack Obama and the crazed Tea Party ultra right nut case infiltrated political party that calls itself “Republicans” decided to getting into a pissing contest over doing something they had to do anyway – raise the debt ceiling so the previously run-up bills could be paid.  In what any objective observer would consider sedition the US House of Representatives, which is supposed to originate all spending measures, suddenly decided to hold the entire nation hostage to their deluded demand that Obama begin dissolving all the elements of the government that they don't like: social services, the regulatory apparatus and so-called entitlement programs. Of course this meant keeping their beloved bloated waste-a-thon Defense (read Offense) Dept intact. This position on "Defense" is an article of faith with this pack of chicken hawks. While ideologically demonizing Keynesian counter cycling spending on our bedraggled infrastructure, they are all for 'Warfare Keynesian' spending especially since a lions share of the defense industry is now located in their Republican controlled Sunbelt and Old Dixie States but it is also strategically spread out elsewhere.

So to reiterate this Fiscal Cliff debacle is a direct result of the GOP refusing to do what they did routinely annually for George W. Bush as he was running the national debt through the roof with unpaid for wars, expanding the size of the government (Homeland Security) and Part D Medicare. It was Obama's last ditch deal with the devil that created this “Fiscal Cliff” mess. The idea was that they create a outcome so dire that both parties would be forced to compromise, something so disastrous and over-the-top that both political parties' bases would be livid with rage. And furthermore the entire (nascent and  weak) recession recovery would be kicked in the nuts. The thinking was that the new Prez and a 'lame duck' Congress would be forced to put together a spending package that could pass the reactionary ideologue controlled House.

This agreement passed because each side was counting on winning the 2012 Presidential election. Now the Demos have won, the Repubs still want to demand their pound of flesh. The Repubs, whose bargaining position should have plummeted, somehow think they still weasel out a deal from Obama who they believe in his is his 'heart of hearts' is a closet moderate Republican (as was Bill Clinton.). No such animal as a "moderate Republican" now exists in the extant Repub Party. They call 'em RINOs and excommunicate them.  Their ploy as always is to maneuver the Demos into doing their dirty work – remember it was Clinton who finally cashiered AFDC.It was under Clinton that Glass Steagle was jettisoned. It was Clinton who balanced the budget by reigning in the social sector side of the government accounts.

As I write this a stopgap deal has passed the Democratic Party controlled Senate w/o the  Republicans  filibustering it, and is now awaiting a vote in the House. It delays the worst elements of Fiscal Cliff, the recessionary tax hike for the middle class while it levies a modest tax increase on the top tier Richie Richs (annual incomes over 450K) of 4.5%., and it keeps the Fed unemployment extension going. But  allows the big spending cuts to be postponed. In short it kicks the can down the road. The deal was cooked up with Republican participation (Repub Senate leader Mitch McConnell) so it will probably pass with enough bipartisan votes as John Boehner, the Speaker of the House, was probably in on it by phone. All he has to do is allow it to be voted on.  

We shall see ...



What will happen today? Quite a soap opera.

No comments: