How much damage have the Republicans done to themselves going into the elections of 2014 and 2016? And has President Obama resolved to hang tough, not just in this round, but in the one that follows and the one after that?
The despair that comes from knowing poor people are going to get health insurance. (Flickr/Jerry Furguson Photography)
Yesterday, John Boehner told a Cincinnati radio station, "We fought the good fight. We just didn't win." That's one way to look at what happened; another is that frightened Republicans allowed their most unhinged members to pull them into a political disaster that any rational person could have foreseen (and many certainly did). That Republicans would never get what they wanted—the destruction of the Affordable Care Act—was obvious. That they'd come out of it with almost nothing at all was nearly as predictable. So now that the battle is over, how are conservatives reacting? Let's take a look around...
Don't go too wild with the celebrations. (Flickr/Susana Fernandez)
We have a deal. At this writing no votes have been taken, but by the time you read this, the agreement brokered between Harry Reid and Mitch McConnell may well have passed one or both houses. So how should liberals feel about it? Let's break it down.
Remember the proposals that were current back in 2011 to have President Obama invoke his authority under the 14th Amendment to keep funding America’s public debt, even without approval from Congress? Well, that proposal has suddenly become highly relevant again, even urgent.
Between his 21-hour non-filibuster to halt Obamacare, his impassioned, hard-line speech at the right-wing Values Voters Summit, and his meeting with House Republicans at the mediocre Mexican joint, Tortilla Coast, it’s clear Ted Cruz is still conducting the shutdown train, even as the country heads into default and his party heads over a cliff. Just about every write-up of the man portrays a smart and opportunistic political mind, eager to be, as The Texas Tribune’s Evan Smith puts it, “the Tea Party’s one true standard-bearer.” But is his strategy just crazy?
As we approach default, it seems like every hour brings a new development in our crisis, and you'll be forgiven if you aren't able (or can't bear) to follow every new proposal, abortive vote, and angry denunciation. So it's a good time to remind ourselves of some things that were true yesterday and last week, and are still true today. These are the things we need to keep in mind as this horrid affair tumbles forward.
Sometimes, Tom Friedman writes a column that is such complete baloney it makes you want to retch. Rather than risking soiling my shoes, here is a point-by-point rebuttal to Friedman’s opus du jour, titled: “Sorry, Kids. We Ate It All.”
Friedman’s column swallows whole the budgetary malarkey of the corporate Fix-the-Debt lobby and its Wall Street sponsors. Namely, the reduced horizons of the next generation are the result of the gluttony of old folks—and of unions.
It didn’t happen because nobody wanted it, and everybody grasped the horrific risks. In the event, the common European civilization was destroyed, three empires fell, 16 million people died, and 20 million were wounded. So World War I couldn’t happen because everyone knew how awful it would be.
In August 1914, virtually all leaders anticipated a short set of skirmishes, a readjustment of borders as in other recent wars, and everyone would be home for Christmas. But, you know, stuff happens.
Eugene Fama, one of the winners of this year’s Nobel in economics, is the fellow who proposed that all markets are efficient all of the time—more precisely that market pricing accurately captures all available information and thus creates “correct” prices. Fama also insisted that there is no such thing as a price bubble.
Somehow, the man missed one of history’s great bubbles and the collapse that followed—an epic case of markets getting prices wrong. He also missed the fact that markets have incorrectly priced carbon, leading to global climate disaster, which Lord Nicholas Stern correctly termed “history’s greatest case of market failure.”
If President Barack Obama and congressional Democrats wanted to maximize the political advantage they're getting from the shutdown/default crisis, they'd agree to at least one part of the short-term deals Republicans have offered, raising the debt ceiling for only six weeks at a time. Then we'd have one default crisis after another, and the standing of the GOP would keep on its downward trajectory until—let's just pick a date at random here—November 2014. But Republicans won't do that; they're now insisting (and good for them) that the deal has to extend at least a year into the future so we don't have to keep going through this. If they get that deal, though, the issue will fade and voters could start to forget how reckless Republicans have been.
They could forget, but I'm guessing Republicans won't let them.