Saturday, July 30, 2011

PoliticsUSA: Debt Ceiling Legislation: The impasse according to Charles Krauthammer

Washington Post (July30,1940)

Krauthammer:  "Obama faces two massive problems — jobs and debt. They’re both the result of his spectacularly failed Keynesian gamble: massive spending that left us a stagnant economy with high and chronic unemployment — and a staggering debt burden. Obama is desperate to share ownership of this failure. Economic dislocation from a debt-ceiling crisis nicely serves that purpose — if the Republicans play along. The perfect out: Those crazy Tea Partyers ruined the recovery!
"Why would any conservative collaborate with that ploy? November 2012 constitutes the new conservatism’s one chance to restructure government and change the ideological course of the country. Why risk forfeiting that outcome by offering to share ownership of Obama’s wreckage?"
— I recommend that you read the entire WaPo article by Krauthammer.  And while you're at it, you mite want to read also Todd Zywicki's item in Volokh Conspiracy (July30,2k11), "Charles Krauthammer on the Debt Ceiling Debate," a short comment and a different quote from The Hammer (he always hits the nail on its head!).

— Politicarp

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