August 12, 2011

IT'S LIKE PRETENDING SADDAM HAS WMD:

An excuse for slashing entitlements (Matt Stoller, August 9, 2011, Politico)

Let's note, at the start, that this downgrade was absurd. The credit rating of the United States is not in jeopardy. The U.S. government prints dollars -- it can no more run out of dollars than a bowling alley can run out of strikes.

What's really happening is an attempt by both parties to justify slashing Social Security and Medicare. Republicans have long wanted to roll back the New Deal. What is relatively new is that a Democratic president is now dead set on cutting these programs as well.

President Barack Obama, in his speech Monday about the downgrade, used the market turmoil as an excuse to do just that.


If Democrats need to pretend there's a metaphysical crisis in order to justify their vote for the right thing, where's the harm?


Posted by at August 12, 2011 7:08 AM
  

blog comments powered by Disqus
« AND HIS ATTACKS LOOK PAVLOVIAN: | Main | BUT BE WARNED...: »