Saturday, July 30, 2011
An Uncompromising Mood
In the attempts to raise the US debt limit, it is the Democrat Party that has taken an inflexible and uncompromising stance. It is as if they would rather have default to use as a wedge issue to triangulate votes against Republicans than actually solve the problem. The GOP majority in the US House of Representatives has sent two plans over to the Senate for consideration, first the Ryan Plan that Harry Reid (Democrat-Nevada) ensured was dead on arrival and then this weekend's Boehner compromise plan that was unpalatable to many conservatives but which emerged from the US House only to be immediately tabled by the Democrat majority in the US Senate without debate. The GOP gave ground and even accepted "enhanced revenue" through elimination of certain tax breaks and loopholes, and came to the Democrat position on everything but raising marginal tax rates and maintaining a few tax credits that actually foster higher employment and grow the economy but are easy to demagogue like subsidies for oil exploration and corporate jets. At this time of so much fiscal uncertainty, the Republicans did stick by their guns to try and protect job creators. The Democrats could have worked with the GOP, negotiated, or advanced their own plan, but instead, they play games for political effect. Stephan Dinan's excellent piece in The Washington Times "http://www.washingtontimes.com/blog/inside-politics/2011/jul/30/democrats-enforce-filibuster-against-own-debt-bill/" demonstrates that even the so-called plan by Harry Reid seems not to have been advanced in good faith to solve the debt crisis. Even the accounting had massive holes in Senate majority leader Reid's plan as it counted savings from wrapping up the Iraq and Afghanistan involvement (which may well not even happen) twice. Double counts and numbers tricks will not repair the financial damage America has sustained. Only meaningful cuts to the Leviathan spending which must include entitlement reform have a chance of returning the United States to the path of prosperity.