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13 Jul 2011 23:20

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Politics: GOP Senator sounds suspiciously socialistic

  • We give money away to a few people at the expense of the many.
  • GOP Senator Lindsay Graham • Pushing to close tax loopholes that benefit upper-income earners. While it seems obvious (to most) that we ought to close tax loopholes, Republicans in Congress have, for the most part, resolutely opposed any modification of the tax code that brings in additional revenue. To hear a prominent Republican say something like this is a faint glimmer of hope that maybe–and that’s a big maybe– Republicans will bend a bit on revenues; this could, in turn, translate into a deal to raise the debt-ceiling. Which would be nice. source
Posted by Seth Millstein • 0 Comments • Permalink

13 Jul 2011 22:34

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Politics: Talk about drawing a line in the sand

  • I’ve reached my limit. This may bring my presidency down, but I will not yield on this.
  • President Obama • Toward the end of a budget meeting with Republicans. It’s not clear what policy he won’t yield on, but from the texture of the debate thus far, we’re guessing it’s the inclusion of revenue increases in the deal to raise the debt-ceiling.source
Posted by Seth Millstein • 0 Comments • Permalink

12 Jul 2011 11:27

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Politics: Debt ceiling drama: McConnell, Boehner muddy the waters

  • In my view the President has presented us with three choices. Smoke and mirrors, tax hikes, or default. Republicans choose none of the above. I had hoped to do good; but I refuse to do harm.
  • Senate Minority Leader Mitch McConnell • Speaking before another debt ceiling chat with Obama, while doing what he does best: Clouding the waters. Remember the 1980s, where deals like these could be brokered without dudes like McConnell saying things to scare the base into thinking the Democrats were pure, concentrated evil? John Boehner, who we respect a lot more, had harsh but more moderated words: “This debt limit increase is his problem. I think it’s time for him to lead by putting his plan on the table, something that the Congress can pass.” It’s either Obama being a completely evil human being or Obama not coming up with a deal that can actually pass Congress. Choose your boogeyman, guys. source
Posted by Ernie Smith • 0 Comments • Permalink

11 Jul 2011 22:59

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Offbeat: Pea lobby agrees with Obama’s pro-pea statements

  • We know that if tasty and nutritious meals featuring peas are served more frequently in the White House and in the cafeterias of both Houses of Congress, it will contribute to a balanced diet, if not a balanced budget.
  • Pete Klaiber, director of marketing for the USA Dry Pea and Lentil Council (which, surprisingly, exists) • Klaiber is reacting to the President’s comment this morning that we Americans need to “pull off the Band-Aid [and] eat our peas.” The President was being metaphorical, referring to harsh-but-necessary budget cuts and austerity measures, but you gotta give the DPLC creativity points for spotting this as an opportunity to push their pro-pea message. source
Posted by Seth Millstein • 0 Comments • Permalink

10 Jul 2011 20:48

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Politics: Debt-ceiling drama: This mess needs to end really freaking soon

  • 10 freaking days to pull off this bloody debt-cutting mess source
  • » Can they kiss, make up and pull off a debt deal? With Republicans suddenly pushing for a smaller short-term agreement and Obama going all heave-ho in favor of a larger one, Obama’s starting to show some boldness that we haven’t seen in a while. In terms of political battles, he called the GOP’s bluff. To be clear, tax increases are the main sticking point here, but are we starting to see the limits of the all-or-nothing approach the GOP has to taxes? Obama looks like he’s not going to blink. But either side could.
Posted by Ernie Smith • 0 Comments • Permalink

30 Jun 2011 10:37

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Politics: The Senate’s skipping its upcoming recess, working straight through

  • All because of that pesky debt ceiling thing: Senate Majority Leader Harry Reid announced that the only fireworks members of the Senate would see next week would be strictly of the political kind — all in an effort to solve the pesky debt ceiling issue that’s been dogging Congress for a couple of months. If they can’t figure it out by August, it could have a dire effect on the overall economy, but Republicans want cuts to coincide with any sort of debt ceiling deal. Not every Senator is on board with this recess idea, by the way. We’re feeling less confident about their ability to fix this mess by the day. source
Posted by Ernie Smith • 0 Comments • Permalink

27 Jun 2011 23:22

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World: House Democrats stand to gain from failed debt ceiling talks

  • We’ve all said we would vote for the full faith and credit of the United States to be honored by voting for this increase in the debt ceiling. If they don’t want to do taxes, maybe they don’t want to do anything.
  • House Minority Leader Nancy Pelosi • Pointing her finger at Republicans — emphasizing that if nothing’s done about the debt ceiling situation (because they aren’t willing to raise taxes), it will greatly hurt them. The New Republic’s Jonathan Chait suggests that this is a power play on Pelosi’s part; if the Republicans can’t make a deal with Obama, it’s likely to damage the economy in such a way that a) it will hurt Republicans and b) it will hurt Obama. One group it won’t hurt, however, is House Democrats — meaning that they’d get some much-needed leverage in 2012 and Pelosi will no longer be an afterthought. This is what we call game theory.  source
Posted by Ernie Smith • 0 Comments • Permalink
 

10 May 2011 16:58

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Politics: Speaker Boehner wants it both ways on debt ceiling debate

  • That would be a financial disaster, not only for us, but for the worldwide economy. I don’t think it’s a question that’s even on the table.
  • Speaker Of The House John Boehner • Commenting on the looming necessity to raise the U.S. debt ceiling, all the way back in late January. See how quickly things change? Seriously, though, the above statement is almost certainly Speaker Boehner’s true opinion on this issue. The fact that he’s now trying to game some more political leverage out of it is unsurprising, as it’s very similar to the way he handled last month’s budget battle. Greg Sargent has a pretty astute take on this — that Boehner knows failure to raise the limit is unthinkable, but wants to push this debate as close to the eleventh hour as possible, hoping that will make it easier to convince members of his own party that he got all he could out of the White House. Sounds about right to us. source
Posted by Chris Tognotti • 0 Comments • Permalink

30 Apr 2011 17:06

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Biz: Warren Buffett: Don’t not raise the debt ceiling, Congress

  • Protip: Trust a guy with a Presidential Medal of Freedom. During Berkshire Hathaway’s annual meeting in Omaha, the investor icon suggested that if Congress failed to raise the federal debt ceiling in the middle of May (as some completely uninformed RedState blogger suggested and Timothy Geithner pleaded against), it would be the “most asinine act” in the chamber’s history. And Congress has done a lot of stupid crap in their day. Perhaps we should listen to this highly-regarded rich guy! (photo by Medill DC‘s Flickr photostream) source
Posted by Ernie Smith • 0 Comments • Permalink

27 Apr 2011 22:32

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Politics: I know nothing of which I speak, yet I speak nonetheless

  • Pro-tip: Don’t preface your argument by proclaiming that you don’t know what you’re talking about. The premise in this RedState piece is that we can “common sense” our way out of any political impasse that comes our way, complexity be damned. This is a dangerous way to go about public policy. “Without a strong position among those on my side of the aisle, and with my limited economic understanding that I mentioned earlier, I must revert to what rarely fails me: My gut.” If you lack enough information to form an opinion, either educate yourself more or recuse yourself from the debate. Comprehending the ramifications of raising the debt ceiling require a basic, if not advanced, level of economic knowledge, and to advocate for a one view or another without this knowledge is both intellectually and journalistically disgraceful. source
Posted by Seth Millstein • 0 Comments • Permalink
 
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