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Tag Archives: deficit commission

Deficit Peacocks, Debt Ceilings, and Indefinite Detention

22 Wednesday Dec 2010

Posted by Craig in budget, Congress, Constitution, economy, financial regulation, health care, Obama, Obama administration, Politics, Taxes, Unemployment, war on terror

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Center for American Progress, Continuing Resolution, deficit commission, deficit peacocks, executive order, Ezra Klein, financial regulation, Guantanamo, health care reform, indefinite detention, Mark Warner, Michael Linden, Obama administration, Saxby Chambliss, tax cut extension, unemployment benefits

In a January 20 article at the Center for American Progress, Michael Linden differentiated between those who are serious about addressing our fiscal problems–the deficit hawks–from those who posture and preen about it—the deficit peacocks. Here’s how he defines a peacock:

“Deficit peacocks like to preen and call attention to themselves, but are not sincerely interested in taking the difficult but necessary steps toward a balanced budget. Peacocks prefer scoring political points to solving problems.”

This is one of Linden’s ways to spot a peacock:

“…people who now claim to be concerned about our fiscal future even though they recently supported massive budget-busting legislation…When someone supports a deficit commission one day and votes to use another $100 billion of red ink on tax cuts for the rich the next, it is perhaps an indication that his or her commitment to real deficit reduction leaves something to be desired.”

Cases in point:

“Sens. Saxby Chambliss (R-Ga.) and Mark Warner (D-Va.) on Monday said they will introduce a bill early next year based on the report from President Obama’s deficit commission.

Warner and Chambliss have been meeting with a group of 18 senators on finding a way to balance the budget, and said they have concluded the debt commission’s proposal is the best basis for bipartisan talks.”

The rest of the “Gang of Eighteen”:

“Roger Wicker (R-Miss.), Jon Tester (D-Mont.), Mike Johanns (R-Neb.), Ron Wyden (D-Ore.), Mike Crapo (R-Idaho), Kay Hagan (D-N.C.), Jim Risch (R-Idaho), Mark Udall (D-Colo.), Lamar Alexander (R-Tenn.), Michael Bennet (D-Colo.), Bob Corker (R-Tenn.), Jean Shaheen (D-N.H.), Amy Klobuchar (D-Minn.), Bill Nelson (D-Fla.), Dianne Feinstein (D-Calif.) and Mark Begich (D-Alaska).”

Fifteen of the eighteen, including both Chambliss and Warner voted for the tax cut extension last week. Only Wyden, Hagan, and Mark Udall have any credibility here. The rest are peacocks.

The vehicle Chambliss and others plan to use to get their desired spending cuts are negotiations over raising the debt ceiling limit (aka the next hostage situation), another can kicked down the road yesterday with passage of a Continuing Resolution to fund the government through March 4.

“Chambliss said on the call that an impending vote in Congress to raise the government’s debt ceiling…will be an important turning point. “It gives us a deadline to look to from the standpoint of getting some meaningful decisions mad …If we can use that as leverage that’s an ideal scenario,” Chambliss said.”

Ezra Klein has more on what this could mean for the future of health care reform and financial regulation reform:

“The good news is that law will keep the government’s lights on until early March. The bad news is that the law does it by extending 2010’s funding resolution — and that resolution didn’t include provisions for implementing the bills that were passed as the year went on.

…this is bad news for the health-care bill and the financial-regulation bill. There’s been a tendency to assume that the universe of options for passed legislation was binary: Either they went forward, or they get repealed. But with an angrily divided government, we may find ourselves in that little-known middle category: The Republicans can’t repeal them and the Democrats can’t fully fund them, and so rather than simply going forward, they limp forward.”

Klein doesn’t address it, but another question would be what does this does to unemployment benefits? Could the 13 month extension become 3? I guess we’ll find out in March.

Finally, this is what’s so confounding and confusing about the Obama administration. They take one step forward, with the repeal of Don’t Ask Don’t Tell, and then take two steps backward with this:

“The White House is preparing an Executive Order on indefinite detention that will provide periodic reviews of evidence against dozens of prisoners held at Guantanamo Bay, according to several administration officials.

The draft order, a version of which was first considered nearly 18 months ago, is expected to be signed by President Obama early in the New Year. The order allows for the possibility that detainees from countries like Yemen might be released if circumstances there change.

But the order establishes indefinite detention as a long-term Obama administration policy and makes clear that the White House alone will manage a review process for those it chooses to hold without charge or trial.

Nearly two years after Obama’s pledge to close the prison at Guantanamo, more inmates there are formally facing the prospect of lifelong detention and fewer are facing charges than the day Obama was elected.”

*Sigh*

Cowards, Hypocrites, and Fools

02 Friday Jul 2010

Posted by Craig in budget, Congress, Democrats, economy, Politics, Republicans

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1937, budget, Congress, cowards, credit tightening, deficit commission, double dip recession, fools, Howard Beale, hypocrites, jobless claims, new home sales, Pelosi, Republican, Social Security, states, stock market

Quickly approaching mad as hell stage:

We have a Congress packed with cowards, hypocrites, and fools—on both sides of the aisle. House Democrats have passed a budget that’s not really a budget, and projected a balanced budget that’s not really a balanced budget because it excludes interest payments on the debt. They left out the minor details of how to achieve that lofty goal, depending on recommendations from the debt commission to cover their collective asses and keep them from having to make what could be controversial votes in an election year. Profiles in courage.

That would be the deficit commission packed with Social Security privatizers, some of whom support investing as much as 20% of the SS trust fund in the stock market. Speaker Pelosi, in the interest of openness and transparency, last night sneaked in inserted language in the war funding bill that would allow the House to have an up-or-down vote on the deficit commission’s recommendations in a lame duck session after the November elections. Buck passing and CYA at its finest.

Republican deficit hypocrites, who never saw a spending program they didn’t like when they held power, have now become fiscal conservatives, allegedly. They, along with their lackey Ben Nelson, have blocked the extension of unemployment benefits despite the fact that new jobless claims have hit their highest levels since March, and the unemployment numbers due out today are expected to show an increase from the 9.7% we have now.

Both sides have their collective moistened fingers in the wind which tells them that voters are worried about increasing deficits, so these geniuses look for ways to cut spending, except for the untouchable Defense Department, that is. Wouldn’t want to be accused of being “soft on terror.”. Never mind that the stock market is headed back down, pending new home sales dropped 30% from April to May, credit is still tightening, and many states are facing budget crises that, without federal assistance, could result in the loss of 900,000 more jobs.

Add these to the anticipated rise in unemployment and the prospects of a double-dip recession are increasing by the day. Exactly the wrong time to even be considering spending cuts, unless you want a repeat of 1937. Fools.

We don’t need one Howard Beale, we need to become a nation of Howard Beales.

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