In Europe, whenever the ruling party is nearing re-election, they crank up the stimulus and drive up the deficit in a desperate attempt to mol ify the public.That’s just how it works. Ruling parties will do anything possible to juice the economy. Then after the election is over, the country has to deal with the consequences.
It’s no different in the US.
Right now though, what we’re seeing is the reverse. The GOP leadership — despite the widespread acknowledgment that any US spending problem would manifest itself in the long-term — is insisting on “immediate” spending cuts to win a debt ceiling increase.
A House aide tells The Hill: “All options are under consideration, but the bottom line is that we will not raise the debt limit without immediate spending cuts and binding budget-process reforms.”
At this point, there’s nobody who doesn’t think that severe spending cuts at this point would help push the economy back into recession, which is the gameplan for an out-of-power party that’s eager to win back the Presidency and The Senate in two years.
Of course, nobody on the right would ever admit this: Talk of spending cuts is always coupled with talk of competitiveness and increased jobs growth. And that’s fine. Politics is a game, and you should package your message however, but there shouldn’t be any confusion that a key part of the play here is to kneecap the recovery.
Meanwhile, the party’s new plan may be to grant debt limit increases that go up just 2 months at a time, with an attempt to extract concessions from the President each time.
Norquist’s proposal would multiply the bites at the apple, under the thinking that winning a number of “reasonable” concessions from Obama and Senate Democrats would be easier than a single major reform. The message, he said, is that “Obama is so undisciplined that he needs a very short leash.”
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