So, the debt deal is now law. Rather than the spending-cutting, tax increase-avoiding, save-the-economy-and-the-world measure Obama and the Democrats made it out to be, reality once again reaffirmed the conservative viewpoint: there was nothing good here.
In the two days since this passed, the stock market has plunged almost 1,000 points, 500 of which came just yesterday, the largest single-day drop since 2008, when the economic powers that be rebelled against the TARP program. This was also the ninth straight day of decline, the longest losing streak in 33 years. Fear is running rampant, and there is talk of another recession (though from the unemployment and GDP numbers, it's hard to seriously argue that the 2007 recession ever really ended). Global markets are similarly freaked out.
Oh, and remember how the essence of the deal was a debt ceiling increase now for promised spending cuts later? Well, Obama sure made short work of the increase now, spending 60% of it in one day. This has pushed America to a disastrously bad landmark: we are now borrowing a full 100% of our gross domestic product. It is for this reason -- and the fact that no one in Washington seems to have any inclination to actually reduce the reckless spending that has gotten us here -- that it is more than likely America's AAA credit rating will be reduced despite the deal passing.
Planned layoffs are on the rise. Russia is congratulating Obama on doing what it failed to do throughout the last half of the 20th century - remove America's superior defense and economic advantages. That really says something, doesn't it?
Don't trifle a liberal with fact, though - the Dems are still out there saying they've 'really turned around' the economy. Really? Well, then welcome to the Obama 'recovery':
If by 'turning around' they're referring to the fact that since 2007 they've destroyed the biggest and healthiest economy in the history of the planet, well, then I'd have to agree with them.
America has had enough, though. A recent Gallup poll shows Americans opposed the deal by a factor of 2:1. Rasmussen agrees, reporting that only 22% actually approved of it, and 58% doubt it will actually lead to genuine spending cuts down the road. Hey, Washington Republicans...what's wrong with you that you couldn't figure it out, when most of the rest of America clearly has? I don't think there's any reasonable doubt anymore that the Democrats have no problem governing against the will of the American people (they've been doing it for two and a half years solid), but it's looking more and more like the Republicans are complicit in that, too.
Rasmussen also found that -- in a continuing show of complete and utter sanity and realism -- a staggering 82% of likely American voters thinks that Obama and Congress should take a 25% pay cut until the budget is balanced. Oh, I LIKE that!!! If I had to offer one suggestion, I think we should ditch the 25% pay cut and instead drop them to an income equal to that of the median American household - $50,000 a year. I'm guessing we'd see a balanced budget amendment in days! Just my opinion. Oh, also, it's worth noting that a full 62% favor the wholesale and immediate replacement of Congress, and 63% believe that no matter how bad things get Congress can somehow make it worse. Once again, the mind boggles at how completely, utterly, incoherently inept the Republicans in Congress are to fail to see and tap into this massive discontent.
And let's not forget that one of the most recklessly dangerous provisions of the deal is a massive de-funding of the Department of Defense. In fact, it's such a drastic cut that even Obama's own Secretary of Defense is calling it 'completely unacceptable'.
And make no mistake - higher taxes are on the horizon. From what I've read and seen, here's one likely way it will play out. Because the GOP signed onto this deal and is professing there are some big spending cuts in it (which there aren't, remember!), as things continue to fall apart the Dems will start clucking their tongues and take up a new mantra: we tried it your way and it didn't work; now we have no choice but to raise taxes. Let's see how long it takes for that narrative to start flowing forth.
Anyway, in the ultimate show of class during this process, VP Joe Biden accuses those who opposed the deal of being 'terrorists'. He denies it, of course, but several Democrats who were present at the time have confirmed it. Where are the civility police when you really need them? Is Biden going to have a beer with Republicans to smooth things over? As she has become so adept at doing, Sarah Palin made hay with the comment:
"It's all talk and no real action. Otherwise he'd be on Biden and tell Biden to tone it down a little bit. Yeah, right, independent patriotic Americans who desire fiscal sanity in our beloved nation being called terrorists. Heck, Sean, if we were real domestic terrorists, shoot, President Obama would be wanting to pal around with us, wouldn’t he? I mean he didn’t have a problem paling around with Bill Ayers back in the day when he kicked off his political career in Bill Ayers' apartment," Palin said on FOX News' "Hannity."That stinging sensation you're feeling is the truth...
So, what is President Barack Obama doing in response to all of this economic mayhem and destruction?
Partying. And fundraising. It's a star-studded birthday bash, with a fabulous dinner costing $35,000 a plate (yes, you read that right) and a price tag of $10,000 for the privilege of having a picture taken with him. But out of all that nonsense, and despite all of the devastation of America that his policies have wrought, here's the part of this event that sends shivers down my spine:
Obama tries to tap into the fuzzy warmth of his "incredible journey," recalling how unusually warm it was at his Grant Park victory party back in November of 2008. And then we get to the crux of Obama's mid-2011 fundraising theme song:
The thing that we all have to remember is, is that as much good as we’ve done, precisely because the challenges were so daunting, precisely because we were inheriting so many challenges, that we’re not even halfway there yet. When I said, “change we can believe in,” I didn’t say “change we can believe in tomorrow."
Remember his campaign pledge to 're-make' and 'fundamentally transform' America? Look around you at what he's already accomplished.
And then contemplate the fact that in his mind...he's not even halfway done...
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