Eugene Robinson: Make My Day

[babylonsister]

http://www.realclearpolitics.com/articles/2011/07/15/make_my_day_110588.html

Make My Day
By Eugene Robinson


WASHINGTON -- "Eric, don't call my bluff."

snip//

Obama's frustration came as House Republicans refused to make a simple choice: Either they could give up their patently unfair and unreasonable demand that a deficit-reduction deal include absolutely no new revenue; or they could give up their equally absurd demand that any increase in the debt ceiling be accompanied, dollar for dollar, by budget cuts. That second option would necessarily mean only a modest hike in the ceiling.

Hence Obama's display of presidential pique.

Let's review why the little game Republicans are playing is so dangerous. If the debt ceiling is not raised by Aug. 2, the United States government faces default. Federal Reserve Chairman Ben Bernanke, a man not given to hyperbole, said Wednesday that the result would be a "huge financial calamity" -- and the wound, he noted, would be entirely self-inflicted.

snip//

What's needed at this point is a way for House Republicans to climb down from the ledge on which they've marooned themselves. Obama has offered them a ladder -- about $1.7 trillion in budget cuts with no offsetting revenue. All they have to do is approve a big enough increase in the debt ceiling to avoid having this same fight every few months. They refuse.

snip//

Obama will continue to offer Republicans sensible ways to refrain from committing a shockingly unpatriotic act of economic vandalism. The unfortunate fact is that if they blow themselves up, they take the rest of us with them.

[thereismore]

1. This is THE best article on the subject. The debt is only 10% China, most of it is US. nt

[Supersedeas]

2. economic vandalism has been a Repub trademark since Clinton left office

[Tarheel_Dem]

3. "They take the rest of us with them". For all their bluster, they won't let this happen.

Wall St. won't have it, it's as simple as that.