Sunday, July 31, 2011

Yes, It Is That Easy

I just saw a video of Dennis Kucinich on the floor of the House what I assume was today or yesterday, with the following quote excerpted from his speech and a little bit of commentary:
"We are the United States of America, the greatest country on Earth. We envision wealth, we don’t default. We create wealth, we don’t default. We build wealth, we don’t default."
Dennis Kucinich solves like, all our problems in like, one minute and 14 seconds. THAT WAS EASY.
Yes. It is that easy. That's the thing about this whole "crisis": it doesn't exist! There is no problem here. Maybe you think America's debt burden is a crisis, in which case we should talk about that; as it happens, you would be wrong on just about any standard economic measure. But this specific debt limit crisis is 100% manufactured B.S. If everyone on Capital Hill really means what they say about agreeing that the debt ceiling should/must be raised but that they just want to have an honest conversation about our national debt, which they absolutely all say they do, then they could just a) raise/abolish the debt limit, and b) have a serious debate about debt and deficits. The fact that they have not done this means that the Republicans actually don't believe that the debt limit "must" be raised; to them, or to many of them at least, it is much more important to create a fake crisis that they can try to leverage into gigantic policy concessions than to be certain of avoiding the economic catastrophe that begins, oh say 38 hours from now if nobody does anything. Nothing is forcing us to have ticking-time-bomb negotiations right now, not the market, not the economy, nothing. Except, that is, one of our two major political parties. But if you're looking for "the right solution" to the current "crisis," yes, it is that easy: raise the effing debt ceiling, and do it now.

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