AlterNet /
By Adele M. StanBecause the Bible Tells Me So: Why Bachmann and Tea Party Christians Oppose Raising the Debt Ceiling
Some of the worst brinksmanship in the debt ceiling fight was driven by the most far-right members of the GOP majority in the House of Representatives.July 31, 2011 |
It's a deal not even its parents could love, but if Congress manages to pass the plan to lift the debt ceiling arrived at last night by President Barack Obama and congressional leaders, the United States of America will manage to have avoided default on its debt -- for the price of deep cuts to public programs.
In a scheme designed to cut $2.4 trillion in spending, the plan devised by Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell, with buy-in from House Speaker John Boehner and Minority Leader Nancy Pelosi, relies on a special bipartisan, bicameral committee of Congress to meet certain spending-cut targets, with the threat of automatic across-the-board cuts to everything from social programs (including Social Security and Medicare) to defense spending if Congress does not act. (You can see the PowerPoint presentation Boehner sent out to his caucus
here (PDF); note that the Washington Post's Ezra Klein says the speaker's wrong when he asserts the plan does not allow for the raising of revenue.)
Dubbed a "compromise" by the White House, the deal looks like more of a grand capitulation than a grand bargain, effectively handing the Republicans a reward for dangling the economy off a cliff with their refusal to raise the limit on the amount of debt the nation could assume. It's not "the deal that I would have preferred," the president said while making a brief statement in the White House press room. The brinksmanship was driven by the most far-right members of the GOP majority in the House of Representatives, who embarrassed Boehner earlier in the week with their refusal to support a deal that would have given them nearly everything they demanded. That required Boehner to come back with a bill that seemed designed to waste time and bring the U.S. that much closer to default: it contained a requirement for passage of a balanced budget amendment to the U.S. Constitution, which led to its predictable rejection by the Senate. ...........(more)
The complete piece is at:
http://www.alternet.org/teaparty/151795/because_the_bible_tells_me_so%3A_why_bachmann_and_tea_party_christians_oppose_raising_the_debt_ceiling/