A Debt Ceiling Deal Where No One Wins And The American People Lose

[Donnachaidh]

http://www.politicususa.com/en/a-debt-ceiling-deal-where-no-one-wins-and-the-american-people-lose

:snip:

This deal has a loss in it for everyone. Obama loses because he got no immediate revenue increase. Republicans lose because Obama got the extension he wanted through the 2012 election, the GOP got zero entitlement cuts, the cuts that they will have to vote yes on will be mostly paper illusions, and they got stuck with facing possible cuts to defense spending if they don’t act. Congressional Democrats lost because in the second part of the plan entitlements are on the table.

Looking towards 2012, Obama now gets to run for reelection by claiming that he has $2.4 trillion off of the national debt. The idea that he is tax and spend Obama will be a tough sell for the GOP nominee next fall.

Republicans won because they managed to get Democrats and even progressive activists who consider themselves the watchdogs of the Democratic Party to buy into the nonsensical premise that the debt ceiling and debt reduction are related and do something that was previously unprecedented. They for no rational reason have now set the precedent that debt ceiling increases must be tied to spending cuts. However, you can look for this new interpretation conditional debt ceiling raises to fall by the wayside as soon as the nation returns to one party control.

The biggest losers in this whole debacle are the American people. As Paul Krugman pointed out today, this deal is likely to increase unemployment and cause more people to become permanently unemployed.

More at the link --

[Union Thug]

1. and don't forget: Obama - Everything will be on the Table for Second Stage of Deficit Cutting n/t

[OhioChick]

2. Bookmarked for later.

Thanks for posting.

[Zanzoobar]

3. There are winners, to be sure

In the political lottery, I have never been one. I don't wish to be one. I wish to scrape them off as so many barnacles.