WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Boner FAIL!

The markets are freaking out this morning over Boner's failed "Plan B."  In an incredibly ill-conceived plan, Boner built up expectations for a bill for which he didn't have the votes, then bullied and threatened Republicans in vain.

The best outcome now would be to go over the fiscal cliff.  That would bring baby steps toward fiscal responsibility.  The Republicans could then use the debt ceiling as leverage to get entitlement reform.  Icing on the cake would be the Republicans throwing Boner out as speaker, which looks a lot more likely now that they've stood up to him once.

The more likely outcome, unfortunately, is that the MSM wing of the Democratic Party blames Republicans and hounds them mercilessly.  In early January, cowardly Republicans then surrender, just as they have at every opportunity in the past.  They undo most of the modest tax increases and spending cuts, and let Obama keep running trillion-dollar deficits.  They probably surrender on the debt ceiling too.

5 comments:

K T Cat said...

I keep wondering why the House doesn't just flat out say, "We're not going to raise the debt ceiling. Have a nice day!"

Imagine the consequences of that one.

Anonymous said...

What? Obama prints a platinum coin or says debt ceiling legislation is unconstitutional under 14th amendment?

Whole lotta nothing.

RT Pro-America said...

Don't read today's LA times. I think it was like the last page of the front section some douche that thinks he's an expert in economics because he is a professor in said subject at the University of MO wrote an article about how the gubment don't need to balance the budget. And that fiscal responsibility on the central goverment level is actually irresponsible. I wanted to pour bleach in my eyes and then stick BBQ skewers through them.

W.C. Varones said...

That sounds like Randall Wray, the Pied Piper of the MMT wackos.

W.C. Varones said...

I was close. It was Stephanie Kelton, a disciple in Wray's cult.

A rebuke of their MMT print-mongering here.

Frighteningly, the MMT wackos' views are not that different than modern uber-Keynesians including Paul Krugman and Obama's advisers.

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