It seems reasonable to conclude from the planlessness and budgetlessness of the Obama/Reid Democrats that their only plan is to carry on spending without limit. Otherwise, someone somewhere would surely have written something down on a piece of paper by now. But no, apparently the Department of Writing Down Plans is the only federal expense the president is willing to cut. You begin to see why the Europeans are a little miffed. They’re passing austerity budgets so austere they’ve spawned an instant anti-austerity movement rioting in the street — and yet they’re still getting downgraded by the ratings agencies. In Washington, by contrast, the ruling party of the Brokest Nation in History has no spending plan other than to plan to spend even more — and nobody’s downgrading them.
Well, don’t worry. It’s coming. The domestic media coverage of this story has been almost laughably fraudulent: To the court eunuchs, a failure to raise the debt ceiling by a couple of trillion would signal to the world that American government was embarrassingly dysfunctional. In reality, raising the debt ceiling by a couple of trillion without any spending cuts would confirm to the world that American government is terminally dysfunctional.
In the debt-ridden treasuries of Europe, they’re talking “austerity.” In the debt-ridden treasury of Washington, they’re talking about more spending (Kathleen Sebelius is touting new women’s health programs to be made available “without cost.”) At the risk (in Samuel Johnson’s words) of settling the precedence between a louse and a flea, I think Europe’s political discourse is marginally less deranged than ours. The president is said to be “the adult in the room” because he is reported to be in favor of raising the age of Medicare eligibility from 65 to 67.
By the year 2036.
If something is not done soon, the financial markets will react for the Congress and the President.
It won’t be pretty and all the POLS will be able to do will be to try to blame the other side.
Why can’t they simply pass a short term compromise and have the great debate in 2012?
Or, does President Obama relish a financial crisis for re-election demagoguery?