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Saturday, July 23, 2011

Debt Ceiling Fundamentals and Fulminations

It's been pretty clear from the beginning that the Republicans in the House couldn't muster the numbers for any Big Deal that wasn't insane and that the Democrats couldn't muster the numbers for any Big Deal even remotely insane enough to satisfy them and that Wall Street wouldn't let any form of insanity impacting their bottom line (like not raising the debt ceiling) happen. And so, the debt-ceiling crisis has always really been the crisis of the insanity of the Republican's unmanageably crazy and ignorant caucus. All the trial balloons and public signals and unattributed quotes and close readings of press events that have been exercising the attention of Villagers and bloggers have mostly been hysterical spastic and yet also herdlike behavior, probably functioning most of all to provide cover for something like McConnell's effort to work out some kind of escape clause via abdication of congressional responsibility at a time when congress is full of Republican crazytown stoopid. As usual, the President's efforts to work his way to the best political position for 2012 managed to convince the idiots of the left that he is secretly eeeevil without dislodging the article of faith among the idiots of the right that he is secretly eeeevil as well, and yet he still managed pretty close to the best case given how idiotic everybody is. The level of GOP crazy and stoopid suffusing congress since the mid-terms really is so high (I warned you) that getting the numbers for even the most modest face-saving minimally sane solution through (we haven't even gotten to filibusters yet, mind you) is far from an easy thing, but I have every confidence the least possible but adequate substance coupled to the highest possible but disgusting hysteria will indeed pass just in time to keep the ugly robotic deadly minuet cranking along.


jimf said...

> . . .even the most modest face-saving minimally sane solution. . .

I've seen speculation that if the situation really comes down
to the thin edge of default, the President may be able to invoke
emergency powers to unilaterally raise the debt ceiling.

The White House has, naturally, claimed it has no intention of
doing so (no need to let Congress off the hook that easily!),
but it could conceivably come down to that. I have seen it
suggested somewhere that the Republicans (or some Republicans)
wouldn't actually mind that so much, because they could claim
that the President bears sole responsibility for whatever
dire extrapolations about raising the debt might ensue.

Of course, the Republicans would then have a field day,
calling for impeachment, appealing to the Supreme Court,
and all sorts of theater.

Stay tuned.

Dale Carrico said...

When the WH declares it has no intention of going down that road I believe them, and for good reason: The so-called constitutional option is actually debatable and this is no time for such a debate. My hope is for a clean bill that gets us past the 2012 silly season, but fear we'll get stopgaps, yielding a replay of this appalling madness every few months or so. Given what the GOP wants to do a do-nothing congress is better than a do-anything congress even when so much needs doing so desperately. It is unfortunate that the evil loons seem to be doubling down on the crazy, so assured are they that their cause is just and will prevail, while the left instead wants to throw all the bums out, incapable of course of distinguishing the devils from the saints in all this, let alone distinguishing degrees of bumhood on offer, and hence nearly as fully committed to their own brand of suicidal folly as the wingnuts. It's a disgusting and demoralizing spectacle I must say. I'd enjoy the show if I weren't afraid it will be the death of me.