Republicans would rather beat Obama than revive recovery
OPINION - If some financial catastrophe were to take place President Obama will not magically net the maximum amount of the blame over it as they wish
For months now Democrats and Republicans alike have warned that if no accord on what to do about the debt ceiling was reached by the August 2 deadline there would be hell to pay. Such payment would come in the form of a lower credit rating that would untimely destabilize other financial markets, increase borrowing costs for government and businesses, which in turn would negatively impact our overall economic recovery.
And you know, collectively force us to incorporate more soup and scrapple into our daily diets or something.
Yesterday, Moody’s Investors Service revealed in a statement the U.S. has been placed on review for possible downgrade given President Obama and the Republicans seem gridlocked on what conditions should be attached to raising the $14.3 trillion ceiling.
Earlier in the week President Obama led a press conference in which he vented his frustrations with congressional Republicans who refuse to bend on their stances in the name of compromise.
WATCH THE REV. AL SHARTON DISCUSS McCONNELL AND REPUBLICANS WITH A PANEL:
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First, he appropriately mocked their so-called debt-damning ideology by quipping, “I have been hearing from our Republican friends that it’s a moral imperative for us to tackle our debates and deficits in a serious way. He added, “So what I’ve said to them is let’s go. It is possible for us to construct a package to involve both parties to take on their sacred cows. We might as well do it now, pull off the band aid, eat our peas.”
That has yet to be done, prompting the president to put things more bluntly: “The politics in his caucus have been very difficult. Folks are rewarded for saying irresponsible things to win elections.”
Therein lies the real problem with the fledging negotiations.
Instead of trying to make a genuine effort to settle this political issue and move on to more pressing matters with the economy, GOP leaders are trying to score cheap political points for the 2012 presidential campaign.
In an interview with conservative radio host, Laura Ingraham, Sen. Mitch McConnell (R.-Kentucky) confirmed just how much presidential politics influence his decision making while defending his call for a three-stage increase of the debt ceiling. McConnell citied the 1995 government shutdown, saying it helped former President Clinton get re-elected and how the current debt divide could do the same for Obama.
On Obama, McConnell explained, “He will say Republicans are making the economy worse. It is an argument that he could have a good chance of winning and all of the sudden we have co-ownership of the economy. That is a very bad position going into the election.” Another Republican leader playing politics is House Speaker John Boehner (R.-Ohio), who criticized the president and White House officials for failure to secure a resolution. Boehner said, “Dealing with them the last couple months has been like dealing with Jell-O. Some days it’s firmer than others. Sometimes it’s like they’ve left it out over night.”
I imagine everyone else on the other side views Boehner and co. as something like uncooked fish wrapped in spoiled cheese.
Boehner also told reporters, “The American people want us to hang tough…[White House officials] know they’re not winning.” Actually, the Obama campaign has raised $86 million in the last three months for his re-election bid — besting their goal of $60 million several times over while Republican presidential candidates have raised less than $35 million combined.
Incidentally, Boehner speaks not only from the position of someone hoping to see President Obama lose his re-election bid, but as someone trying not to lose his role as House Speaker to Rep. Eric Cantor (R.-VA).
Speaking of Cantor, the wannabe Speaker of the House Cantor told journalists yesterday that Obama stormed out of a tense meeting with Republicans following another refusal to budge on taxes. Cantor quotes Obama saying, “Eric, don’t call my bluff. I’m going to the American people with this.”
A White House official denies Obama abruptly fled the meeting, but did note that the president told congressional leaders, “I’ve been very patient.”
He has, thus should continue calling Republicans out for their behavior. Congress is said to have raised the debt ceiling 64 times since 1962? — even during election years. Republicans care less about their purported principles and more about power.
Unfortunately for them, if some financial catastrophe were to take place President Obama will not magically net the maximum amount of the blame over it as they wish. Americans see how transparent Republicans have become. If our economy sours further over their antics, pity and punishment will greet them for it.
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