Digby: Beltway Pundits Excited by the Prospect of Causing Main Street More Economic Pain

[marmar]

Beltway Pundits Excited by the Prospect of Causing Main Street More Economic Pain


And Howard Kurtz delivers the Village vote of confidence:

After months of savaging each other as the country moved perilously close to defaulting on its debt, Democrats and Republicans are now moving toward a deal that would slash spending between $2 trillion and $4 trillion, raise taxes and stave off disaster.

How did that happen, exactly?

The answer is that while feeding red-meat rhetoric to their ideological bases, President Obama and the GOP reluctantly embraced the politics of adulthood behind the scenes, recognizing that they would pay a huge price—and shatter the fragile economic recovery--by failing to boost the debt ceiling by the Aug. 2 deadline.

Right because it's written in the constitution that you can't raise the debt ceiling without a gigantic negotiation. It happens every time.h wait, that's right, it's never happened before and the only reason it's happened this time is because these "adults" have decided to use it as an excuse to pass an historic budget cutting bill.

Never forget folks. They could have held a simple vote at any time to raise the debt ceiling. Just like they've always done in the past. But I suppose if you really believe that in order for the country to recover you need to cut huge amounts of spending, you might think this was necessary. .................(more)

The complete piece is at: http://www.alternet.org/newsandviews/article/631454/beltway_pundits_excited_by_the_prospect_of_causing_main_street_more_economic_pain/

[RKP5637]

1. Maye it's time for Main Street to separate itself from Wall Street and

the Banksters. Work cooperatively together and dump Main Street and the Banksters for anything. Eventually, this will have to happen for survival. OK, I have no idea how to implement this, but it's fun to think about. I can't believe that say in 100 years this economy will even function remotely as it does today.

[Fumesucker]

2. This is an interesting bit..

Not that I disagree about how this has unfolded. I've been calling this debt negotiation a kabuki dance since Cantor first spilled the beans in January. But I'd say that Boehner, Cantor and Obama are about to get a big, sloppy wet kiss from the Village for doing it.

After all these years of blogging I think I'm back at the beginning: nothing can change as long as the Village media exists.