One of the most laughable positions in Washington right now is the Republican pretense that if they don’t get what they want in the way of budget cuts, they won’t raise the debt ceiling.
This is preposterous.
Of course the Republicans will vote to raise the debt ceiling–even if they don’t get a dime of cuts. Forcing the US into default would be catastrophic. It’s impossible to take anyone who says they care about the country seriously if they pretend they would do that.
Meanwhile, over on the other side of the aisle, there’s the equally ludicrous conceit that we can just keep doing what we’ve been doing and that we’re not going to touch Medicare and Medicaid because of our “promise to seniors.”
If we don’t touch Medicare and Medicaid, we’re toast.
Oh, and we have to raise taxes, too. And cut defence and other spending. And we have to do all this in the context of a long-term deficit reduction plan, so we don’t deal a hammer blow to the economy right now, while it’s still struggling to recover from financial crisis.
Dylan Ratigan was kind enough to have me on his show with his Mega Panel this afternoon to rant about this. The good folks at MSNBC set me up in a studio with a picture of books behind me, and they gave me a tan: