Welcome back to the worst zombie movie our nation's full faith and credit can buy: the Republican-manufactured debt ceiling crisis. This time in menu form!
Welcome back to the worst zombie movie our nation's full faith and credit can buy: the Republican-manufactured debt ceiling crisis. This time in menu form! No word on whether they are going to make this into an actual menu, but Republicans have drawn up a list of demands and the length of time they will extend the debt ceiling for if President Obama gives into them. Should the President go big and select "Privatize Social Security," off the menu, Republicans won't bother him about the debt ceiling for the entire rest of his term, which would be great except for how it would undo one of the great American achievements of the last century. If Obama doesn't have the appetite for that, he could simply cut food stamp aid, staving off the debt ceiling zombies for a little while, but with the knowledge that they will be back.
Here's the thing about the debt ceiling zombie: it's only purpose is to extract painful cuts from Obama, and the only purpose of those is to bring us closer to an Ayn Randian utopia which will be really fun for nihilistic rich people, like the ones funding the campaigns of Congressional Republicans. Here's the other thing, and really it's the first thing you should think about when you hear the words "debt ceiling" and especially when you hear "debt ceiling menu": raising the debt ceiling is a procedure that allows us to pay for stuff that we have already bought. The credit card has been charged, it's just a matter of whether the U.S. decides to make good on its purchases.
But, Republicans counter, we need to do stunts like the debt ceiling menu because it's the only way that Obama will stop his crazy spending and we can get the deficit under control. That's the argument, right? We need to think about our children and our children's children and how much debt they will owe. Most widely accepted economic thinking would disagree, but hey, they have the right to their opinion that we need to cut the deficit.
And we have
. A lot. The Congressional Budget Office
that the deficit will fall this year to $642 billion, which may sound like a lot, but it's half what Obama came in with in 2009, and it's easily the lowest deficit we have had since before the recession.
President Obama claims he will not select anything from the debt ceiling menu, and that the full faith and credit of the United States is non-negotiable, and so he will not negotiate it. Let's hope he's telling the truth. This zombie movie wasn't good the first time, they have made way too many sequels, and the "cult fanbase" is just a bunch of billionaires, lobbyists and the congresspeople who need them.