Obama is not going to slash Medicare or Social Security, so CTFD already

He’s got this.

Check out this interview Obama did with Jean Enersen in Seattle.

[via The Obama Diary]

[cross-posted]








Boehner Blinked.

Well, what do we have here:

House Speaker John Boehner is abandoning discussions with the White House on a large-scale debt deal slated to achieve $4 trillion in deficit reduction. The bone of contention is Boehner’s insistence on no tax increases in the deal. Instead, Boehner said the talks should focus on reaching a smaller debt-reduction deal.

“Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes,” Boehner said in the statement.

The Administration knew what Boehner’s pressure point was. How? Because Grover Norquist hasn’t shut the hell up about it for a month now. The sacred tax pledge! You must obey the sacred tax pledge! All the howling from the left may turn out to have been a good thing.***

Meanwhile, the Tea Party is about to lose its collective mind (to the extent it has one, which is unlikely).

The hits: They just keep on comin’.

I reckon this is your evening flame war thread.

Cheers!

***I know I know, he’s worse than Bush.








Rand Paul is being a dick about the debt ceiling.

He’s going to filibuster because of course he is.

Rand Paul, who is turning out to be one dumb motherfucker, is planning to throw a temper tantrum filibuster in order to force a debate on raising the debt ceiling.  Yup.

He also claims that the Teabilly Caucus’s vote to raise the debt ceiling is contingent upon passing a Balanced Budget Amendment to the Constitution.

Yup.  A Balance Budget Amendment.  The same one that Ezra Klein called “the worst idea in Washington” — that Balanced Budget Amendment:

Read more








Is America Too Big To Fail? Eric Cantor Doesn’t Think So.

Investing in Failure

A reader pointed out this interesting bit of news, with the question “Why hasn’t this gone viral?” The answer? I don’t know:

Putting his money where his mouth is? Eric Cantor, the Republican Whip in the House of Representatives, bought up to $15,000 in shares of ProShares Trust Ultrashort 20+ Year Treasury ETF last December, according to his 2009 financial disclosure statement. The exchange-traded fund takes a short position in long-dated government bonds. In effect, it is a bet against U.S. government bonds—and perhaps on inflation in the future.

Given that it seems the Republicans are hell-bent on destroying the economy in order to stick it to Democrats, I fail to see how this isn’t a big deal.

Perhaps I am not reading this correctly and it isn’t a conflict of interest, but it certainly seems like it is: These folks have a stake in the failure of the U.S. economy, but IOKIYAR.

I’d ask where the jobs are, but why bother.

(H/T starshine!)

[via Think Progress]

[cross-posted at ABLC]








I’ve got this thing and it’s fucking golden, and, uh, uh, I’m just not giving it up for fuckin’ nothing. I’m not gonna do it.

It makes perfect sense to have some limit on how high government debt can get. You can’t have a situation where some poorly thought out program or budgeting accident runs up the national debt like a tween with no texting plan on her phone. After all, Congress can always raise the limit when the need comes up. Whoever put that in place no doubt took it as a given that any leaders who screwed around with the debt limit would have their fingerprints all over a financial calamity and get slaughtered in the next election.

And yet here we are. Mitch McConnell now says that we cut Medicare or the economy gets it.