If Republicans hold the position that they will not raise the debt ceiling unless it is matched by future cuts, does that give the GOP incentive to raise the debt ceiling?
Consider it this way: Presuming a perpetual state of debts and deficits is not the long-term objective of either Democrats or Republicans, but spending levels are, if Congress raises the debt ceiling now, it provides a short-term concession for a long-term gain. Dollars approved to pay for accrued debts equals dollars cut from future public investment. Raising the debt ceiling is, therefore, a perverse way of achieving the “Starve the Beast” strategy.
Or maybe a better analogy should be called a foie gras strategy. Feed the Golden Goose before slaughtering it and eating its fattened liver.
But in this case we’re really looking at faux gras. The people of the United States — the collective efforts and benefits of its government — is the Golden Goose being fattened for the slaughter. Once the goose is dead, no eggs.
In real time…right here and right now…the Republican caucus is threatening to sabotage our nation’s economic recovery based on spending decisions which Congress has already approved. It is a manufactured funding problem turned into a political tool. Furthermore, it is bad policy based on bad economics. Why do we tolerate this?
- “Fundamentally Stupid And Dangerous”: The GOP Debt Ceiling Strategy Is “Hostage Taking” (mykeystrokes.com)
- Republican Senator: GOP Should Hold Debt Ceiling Hostage As Leverage For Medicare Cuts (thinkprogress.org)
- Paul Krugman Tells It Like It Is, Calls Debt Ceiling Negotiations ‘Hostage Taking’ (VIDEO) (mscyprah.newsvine.com)
- “Catastrophically Dangerous”: What Happens If The GOP Shoots The Hostage? (mbcalyn.com)
- Business leaders back Obama, not GOP, on debt ceiling (maddowblog.msnbc.com)
- Boehner: debt limit ‘not the ultimate leverage’ (maddowblog.msnbc.com)