Mercury Rising 鳯女

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Archive for July 30th, 2011

Default now appears inevitable

Posted by Charles II on July 30, 2011

43 Republican Senators Sign Letter Opposing Reid Debt Plan

Of course, three Republicans could decline to join a filibuster. Looking at who signed the letter, even the so-called “responsible Republicans” (Lugar, McCain) are on board with blowing things up. I guess that the Democrats could cave and do what the Republicans want. But that would probably be worse than default.

Or a meteor could land on Washington. That would certainly would gratify a large swathe of the American public and lead to better economic policies than are presently under consideration.
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Update: So, we get worse than default. Ten years of a contracting economy and joblessness levels to rival the Great Depression. This agreement will definitely put the US back into recession. And by caving, Barack Obama has left the only healthy part of the American polity leaderless, adrift, and tearing at one another.

Posted in budget, deficit, Republicans acting badly, Republicans as cancer, stupid | 2 Comments »

 
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