Sunday, July 31, 2011

What debt crisis?

To paraphrase Churchill, "never in the field of human endeavor has so much been said by so many about so little." This farce is about to wind down. Thank goodness! In this process we have managed to create a non-existent problem; shoot ourselves in the foot; make the entire US look totally stupid in the eyes of the rest of the world and waste thousands of hours arguing back and forth, and in general, look totally stupid!

Sometime I think our elected congressmen should not be allowed out of the house without a keeper. They just don't seem to be able to understand the consequences. As one noted economics professor put it, Failure to pay our bills wold signal to the world that U.S. politics are so dysfunctional that we can't even avoid serious and unnecessary self-inflicted wounds. And if we can't avoid a self-inflicted wound, the world financial markets will just freak out.

It is now difficult to remember that all that was required was a one paragraph bill that changed some numbers. This was not new taxes. It was not new expenditures. It was merely to pay for things already purchased. The dingbats had to turn this into a major media event. And in order to enjoy their misbegotten sense of power, they may well really hurt out standing in the international financial markets. How stupid can we be?

Personally I wish the President had invoked the 14th Amendment (which many of the dingbats claim does not really exist), raised the debt limit and maybe let our congress get back to the problem of jobs. That might still happen.

Do you suppose the dingbats clap each other on the back and brag about how they have screwed the public once again?

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