Posts Tagged ‘national debt’
Monday Morning Links
* These kids today, and their games.
* The Post has a profile in motion of freshman House Republican Ted Yoho (FL). The focus is how he’s part of the faction who forced John Boehner to trigger the government shutdown and now wants to move along to default on the national debt. How bad will default be? “I think, personally, it would bring stability to the world markets,” Yoho told the Post.
* In Conversation: Antonin Scalia.
Isn’t it terribly frightening to believe in the Devil?
You’re looking at me as though I’m weird. My God! Are you so out of touch with most of America, most of which believes in the Devil? I mean, Jesus Christ believed in the Devil! It’s in the Gospels! You travel in circles that are so, so removed from mainstream America that you are appalled that anybody would believe in the Devil! Most of mankind has believed in the Devil, for all of history. Many more intelligent people than you or me have believed in the Devil.
You know, Antonin, I believe in the Devil too — and I even know his secret identity!
* Open Letter to Everyone Who Secretly Controls the US Government: Are you okay? Do you need help?
* Why I’m calling on all university faculty to refuse to write letters of recommendation to TFA.
* And over 100 long-lost Doctor Who episodes found by dedicated fans – in Ethiopia. Someone’s getting over 100 replica Daleks.
The Absurdity of Devising Economic ‘Solutions’ to Please Those Institutions That Got Us into the Financial Crisis
Nick Dearden in Counterpunch says bring on the Debt Court.
Monday Links
* Manned space flight after the space shuttle.
* Fascinating user revolt at HuffPo in the comments of their icon design contest.
* Bachmann, Perry, and Christian Dominionism.
* Inconceivable! 23 straight polls say people want to raise taxes to pay off the debt.
* And if liberals say the world is warming, it must really be cooling: Rick Perry’s daft climate change conspiracy theory. 2012 is going to be a long year.
The Fiend!
Mr Chambers, the chairman of S&P’s sovereign ratings committee, has come under scrutiny himself since the downgrade.
Political observers have noted that he never studied economics and that he majored in literature and philosophy and has a master’s in English literature.
‘If a Center-Left Coalition Succeeds in Stabilizing the Budget, Republicans Will Eventually Destabilize It’
In a nutshell, when you have a political party that does not agree that revenue levels must bear a relationship to outlays, and is willing to foment a systemic crisis in order to maximize its leverage, you’re in trouble.
More Good News
UPDATE: Yeah, it’s done.
A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.
Officials reasons given will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.
The official was unsure if the bond rating would be AA+ or AA.
Via ThinkProgress.
Depressing Sunday Links
Establishment Democrats are enthusiastically betraying their constituents, and gloating about it. I’ve already committed to not giving money and not volunteering in 2012, but the sticker’s coming off the car if the deal as described goes through. I’m done.
While the New Deal stoically awaits the guillotine, some links, many shamelessly stolen from zunguzungu’s supersized edition of Sunday Reading:
* Congressional Black Caucus: Use the 14th Amendment.
* Jeffrey Sachs: “Every part of the budget debate in the U.S. is built on a tissue of willful deceit.”
* The basic error was that Buchanan approached American politics in procedural or legal terms at a moment when the reigning political conflicts in American life were no longer in any sense shaped or resolved by procedural or legal processes. Obama as James Buchanan. More here from John Judis:
Over the last four decades, the Republican Party has transformed from a loyal opposition into an insurrectionary party that flouts the law when it is in the majority and threatens disorder when it is the minority. It is the party of Watergate and Iran-Contra, but also of the government shutdown in 1995 and the impeachment trial of 1999. If there is an earlier American precedent for today’s Republican Party, it is the antebellum Southern Democrats of John Calhoun who threatened to nullify, or disregard, federal legislation they objected to, and who later led the fight to secede from the union over slavery.
* In a nutshell, what’s going on is something that hasn’t happened in American politics for 50 years: an ideologically coherent social movement with clear political aspirations has taken shape out of murkier antecedents and disparate tributaries and at least for the moment, it has a very tight hold on the political officials that it has elected. The movement is not interested in the spoils system, its representatives can’t be quickly seduced into playing the usual games. And the movement’s primary objective is to demolish existing governmental and civic institutions. They’ve grown tired of waiting for government to be small enough to drown in a bathtub, so they’re setting out with battleaxes and dynamite instead.
Social movements that aren’t just setting out to secure legal protection and resources for their constituency, but are instead driven to pursue profound sociopolitical transformations are unfamiliar enough. What makes this moment even more difficult to grasp in terms of the conventional wisdom of pundits is that this isn’t a movement that speaks a language of inclusion, hope, reform, innovation or progress. It speaks instead about restoration of power to those who once held it, the tearing down of existing structures, about undoing what’s been done. This movement is at war with its social and institutional enemies: it has nothing to offer them except to inflict upon them the marginalization that the members of the movement imagine they themselves have suffered.
* Ezra Klein dangles the carrot: maybe Obama won’t capitulate on the Bush tax cuts again. Sure, maybe.
* Surely there must be a name, in advertising parlance, for the figure of the anthropomorphized food item that happily consumes a non-anthropomorphized version of itself?
* The great teddy bear shipwreck mystery.
* On misremembering the victims of injustice as small children.
* Julian Sanchez: “The very existence of such massive trade in “defensive patents” is, in itself, pretty strong evidence that there’s something systematically quite wrong with the American patent system—because a patent that’s useful for “defensive” purposes is very likely to be a bad patent.“ I love that Planet Money and This American Life got non-IP people talking about this.
* And I may have done this one before, but what the hell: Inside an abandoned East Berlin amusement park.