Keep in mind 1 thing:
They no longer want a tax increase because it is immediate and it is fiscal contraction. Do that to a teetering economy and unemployment will explode further, and that’s that for re-election.
So make no mistake here, this is not and never has been about taxes. It’s about spending, and frankly, a sharp cut to FY2012 spending is ALSO fiscal contraction and will spike unemployment.
It’s beyond salvation.
[Its about spending, and frankly, a sharp cut to FY2012 spending is ALSO fiscal contraction and will spike unemployment.]
Yup, we are screwed short term no matter what. But the Keynesian analysis doesn’t hold long term, higher spending creates only worthless government jobs which cripple the economy. So you have to take the bitter pill.
I think I agree with you. Obama is hardly exhibiting profound concern, is a bore when speaking of the issue and in general appears done with the presidency except for what he can bring down before he leaves office. Like the country. These are communists and they seem to be in a hurry pretending they care about default, which would only serve to strengthen their hand in undoing the country, making it easier to fundamentally change the USA, IF you can get it done while still in power.