The President said we risked a national credit downgrade and default if we didn’t quit fucking around with partisan politics and reach an actual solution to the debt problem (Ok, he didn’t actually say “fucking around,” but you know he was thinking it. The VP, on the other hand, likely did use those exact words)
The head of the Federal Reserve said we risked a national credit downgrade and default if Congress didn’t quit arguing and reach a real solution.
The head of the International Monetary Fund said the United States risked a credit downgrade and default if Congress kept acting like spoiled children.
The head of every bank in the world agreed and urged Congress to quit arguing and sit down like adults and work out a solution.
Every economist worth his slide rule concurred and repeatedly warned of the danger.
The head of each of the three major credit rating agencies cautioned the US and made threatening noises.
In other words, the folks who actually know something about this topic or are advised by people who are actually the world’s top experts on this subject, all said the same thing – compromise, fix the problem.
A significant fraction of House and Senate conservatives, including John Boehner initially, were willing to compromise on the issue and bow to actual reality.
Polls indicated that nearly seventy percent of Americans, on both sides of the political spectrum, agreed that a real solution to the debt crisis required both spending cuts and tax reforms.
Congresswomen Michelle Bachman, Tea Party Wicked Stepmother and Wannabe President said, “They’re wrong! We will not compromise!”
Sarah Palin, Princess of the Tea Party and Wannabe President said, “They’re so wrong! We must not compromise!”
Ron Paul, wizened Tea Party Grand Vizer and Wannabe President said, “They’re wrong! I can balance the budget in my first year in office.” (He didn’t bother to show how he would actually do this. It’s Magic! But I digress).
The TEA Party toads croaked in hypnotized unison from their lily pads, “They’re wrong! They’re wrong! They’re Wrong! How dare Obama scare old people like that! If any of our delegates compromise on this issue, they’ll meet a primary challenge! No compromise! No compromise! Ribit! Ribbit!”
Mitch McConnell, Evil Counselor, said, “Consequences smonsequences! As long as we’re rich!”
Somebody remind me, how’d that work out again?
As I said in The Inexorable White Whale, sometimes you can see disaster coming and there’s just nothing you can do about it.
All you can do is pick up the pieces afterward and consider the lessons learned.
And what have we learned from this?
So far, not a goddamned thing.
This morning the usual cast of characters, Bachman chief among them, scramble to shift the blame and dodge responsibility and ramp up the partisan fighting. This is not surprising, considering their past performance. Remember Palin’s rhetoric in the wake of the Giffords’ shooting? Same old, same old. They’ll change history, and edit the Wikipedia to claim they were all for compromise. And they don’t regard the downgrading of the United States’ credit rating as anything more than a way to get what they want. These traitorous partisan bastards have the luxury of inflexible selfishness and self-indulgence. The President does not.
More later, after things settle down a bit. In the meantime, consider this an open thread for discussion of the subject at hand.