“Republicans” in Washington, D.C. have offered Democrats a no-strings-attached, six-week increase in the federal debt limit as part of their efforts to strike a deal.
This, of course, is total capitulation … a.k.a. what happens when a divided army simultaneously battles itself and its “frenemy.”
Democrats aren’t accepting the GOP’s unconditional surrender, though. Instead they are upping the ante – demanding spending increases in addition to more unsustainable borrowing (not to mention the full funding of Barack Obama’s socialized medicine law).
Lost in this high-stakes drama, though, has been the cost of this new borrowing. Seriously … how much deficit spending are we talking about over the next six weeks (assuming the Democrats eventually permit the GOP to surrender)?
Apparently no one knows … and the mainstream media has completely ignored this vital bit of information as it obsesses over every regurgitated rhetorical syllable from the ruling elite (and does its best to portray the so-called “government shutdown” as some sort of post-apocalyptic Thunderdome).
We did some digging with our sources on Capitol Hill …
“We figure $300-600 billion, depending on the technicalities of the ‘extraordinary measures’ the Treasury would be permitted to use,” one informed source told us.
Wow … $300-600 billion? In just six weeks?
Yup …
Be sad (for your wallet) … but don’t be surprised. Remember, this is the same government which blew through $2.4 trillion in new borrowing in only seventeen months per the terms of the last debt deal.
What did all of that new government spending accomplish? Well, the last time the government provided an update on the labor situation the nation’s workforce had shrunk to a 35-year low – while the number of Americans outside of the national workforce had reached an all-time high of 90.5 million. Income levels remain down … while prices (including the cost of borrowing) continue to rise.
In other words, all of that deficit spending – and all of the Federal Reserve’s money printing – did not stimulate the American economy.
But hey … let’s just keep on borrowing and printing money like there’s no tomorrow (and demonizing the handful of those in Washington who see the writing on the wall).
That should work, right?
Right?
12 comments
I wish I was on vacation this week. It’s going to be so much fun :)
Can anyone explain what the Republicans are actually doing? They changed one of the resolutions. Resolution 368 rule 22?
It’s called “Democrats caused the shutdown by letting Republicans change the rules so that Democrats couldn’t stop the shutdown.” Because the Democrats are to blame for everything, which is, of course, the Democrats’ fault.
No, no, no, you’re not repeating the party mantra – “It’s all Bush’s fault!”
Give up the old Faux News talking point. That’s talking point has been out of date for a while now.
The new talking points you are supposed to be pushing are.
Democrats shut down the Government. The Government shut down is not really a shutdown and doesn’t affect anything important; but if it does, its Obama’s fault.
Normally, any member of the House can force a vote on legislation which the Senate and House are unable to agree on. Republican leaders were nervous about the possibility that the Senate’s clean spending extension bill would pass the House on the strength of Democratic votes and 18 Republican votes, so they changed the procedure, to prevent that from happening .
Kinda like Reid not bringing budgets to the floor of the Senate?
HOLD THE LINE YOU FRACKING PUSSIES
Only in the mind of a raving lunatic is a mere 6 week delay a “total capitulation.” By doing this, the Republicans buy time on the shutdown and can use the debt ceiling again late November. Hitting the debt ceiling would finish the one-two punch that would blast a majority of the party into irrelevancy.
Oh, but hitting the debt ceiling won’t do anything!
http://www.washingtonpost.com/business/economy/debt-ceiling-breach-would-push-economy-into-freefall-without-a-government-safety-net/2013/10/13/a4efd588-3287-11e3-8627-c5d7de0a046b_story.html
The Tea Party has no idea what it is asking for when it is telling Republican leaders to “call Obama’s bluff” on the debt ceiling. They will either succeed in extorting policy through nothing short of thuggery, forever setting a precedence that shouldn’t be set, or fail and destroy the economy in the process. Even a brief flirt with sanity on the GOP’s part is met with anger, disdain, and a complete defeatist attitude by the extreme right.
I hope 2014 turns out to be an extremely painful year for Republicans. They created this monster, let them be thrown to the trash heap of history along with it.
I concur. Repuklicrats out. Conservatives IN!! 2014 WooooooHoooooooo
That’s the bowl that Howie makes Will bob in to get his monthly fix…
Great! The GOP :putting their mouths where the money is…