Tag Archives: economy

Ted Yoho: We Must Destroy the World In Order to Save It

Mother Jones

Government policy may or may not have been a prime cause of the 2008 financial crisis, but Dan Drezner says it sure is a prime cause of the lousy recovery since then:

A standard lament about the 2008 financial crisis is that it happened because of “market fundamentalism.”….But between the Eurozone crisis and U.S. policy deadlocks, it’s striking how much the gyrations of the past few years are because of governance failures. And it’s depressing to consider how much better the global economy would be doing if politicians in the advanced industrialized economies were a bit better at their jobs.

Yep. And speaking of governance failures, here is Rep. Ted Yoho over the weekend:

“I think we need to have that moment where we realize we’re going broke. If the debt ceiling isn’t raised, that will sure as heck be a moment. I think, personally, it would bring stability to the world markets,” since they would be assured the United States had moved decisively to curb its debt.

Yes indeedy. Breaching the debt ceiling will bring stability to world markets. I wonder what other ideas Yoho has for bringing stability to world markets? I’d love to hear them.

I think Yoho deserves to be immortalized for this. As we all know, the increasingly annoying acronym YOLO means You Only Live Once. So what does YOHO stand for? You Only Hijack Once?

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Ted Yoho: We Must Destroy the World In Order to Save It

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Democratic Super-PAC Targets GOP “Crybabies” With Hilarious Ad

Mother Jones

Here’s a political ad that gets right to the point.

House Majority PAC, the super-PAC angling to win back the House for the Democrats next year, is on the airwaves with a new TV ad depicting a crying baby and likening a crew of House Republican lawmakers to petulant children. The ad targets House Speaker John Boehner (R-Ohio) and a crew of tea party lawmakers—including Reps. David Joyce (R-Ohio), Gary Miller (R-Calif.), Mike Coffman (R-Colo.), Rodney Davis (R-Ill.), and Mike Fitzpatrick (R-Pa.)—saying these GOPers are, well, big crybabies throwing a temper tantrum over their failed efforts to derail Obamacare.

“Speaker John Boehner didn’t get his way on shutting down health-care reform,” the ad’s narrator says. “So he shut down the government and hurt the economy.” The ad features the Twitter hashtag #GOPTemperTantrum.

The partial shutdown of the federal government now enters its second week, with no resolution in sight. On ABC’s This Week, Boehner said he would not move to reopen the government until President Obama agrees to negotiate over Obamacare, the centerpiece of which went into effect last Tuesday. Asked whether the nation was set to default on its obligations in mid-October when it hits the government’s borrowing limit, Boehner replied, “That’s the path we’re on.” Obama, of course, refuses to enter talks about weakening or defunding his health insurance overhaul.

Don’t be surprised, then, to see more crying babies on your TV set in the days ahead.

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Democratic Super-PAC Targets GOP “Crybabies” With Hilarious Ad

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John Boehner Has Been Cruzified on a Cross of Tea

Mother Jones

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Byron York has an interview today with a Republican congressman who is unnamed except for this description: “It’s fair to say his was a perspective well worth listening to.” The gist is that this guy was surprised by the passion of the Ted Cruz crusade to defund Obamacare, but nonetheless figured that Democrats would eventually agree to pass a CR with a single modest concession: repealing the medical device tax. Here’s the relevant passage:

“I never thought defund, and honestly, I never thought delay, would work,” the lawmaker said. “I think the Democrats very much need the exchanges to come on and work to finally create a constituency for Obamacare…so I never thought they would agree on that.”

Still, the lawmaker thought Senate Democrats, and Majority Leader Harry Reid, would make some sort of concession on a lesser aspect of Obamacare. “I do think, though, when Boehner sent over delay and repeal of the medical device tax, I think he thought he’d probably get back medical device, and that would have probably been enough right there,” the congressman said. But Reid and the Democrats steadfastly refused to consider any change to Obamacare, surprising Republicans again….When Boehner lowered his demands to include a delay for just the individual mandate — not for all of Obamacare — Republicans thought Democrats would be open to that more modest proposal.

“Instead, it’s no, we’re not going to negotiate, we’re not going to negotiate, we’re not going to negotiate,” the lawmaker said. “Which means effectively you’re going to try to humiliate the Speaker in front of his conference. And how effective a negotiating partner do you think he’ll be then? You’re putting the guy in a position where he’s got nothing to lose, because you’re not giving him anything to win.”

I understand that I’m writing from a partisan perspective and might be as blinkered as the next guy. But this strikes me as jaw-droppingly naive.

Here’s the thing: I agree with our unnamed congressman about the device tax. It’s a fairly small thing ($2-3 billion per year) and completely nonessential to Obamacare. It could be eliminated without harm, and it would give Boehner a small bit of face-saving that might allow him to pass a budget. If this had been the GOP’s initial ask, Democrats probably would have given in.

But after weeks and weeks of tea party rage and intransigence, that became impossible. By the end of September, the Republican strategy had become crystal clear: demand unceasing concessions from Democrats at every opportunity without offering anything in return and without any negotiation. A month ago, Democrats might have shrugged over the device tax. Today, they know perfectly well what it would mean to let it go. It means that when the debt ceiling deadline comes up, there will be yet another demand. When the 6-week CR is up, there will be yet another. If and when appropriations bills are passed, there will be yet another. We’ve already seen the list. There simply won’t be any end to the hostage taking. As their price for not blowing up the country, there will be an unending succession of short-term CRs and short-term debt limit extensions used as leverage for picking apart Obamacare—and everything else Democrats care about—piece by piece.

There’s no way that any political party anywhere in the world would willingly put itself in this position. Does this mean that Democrats are “jamming” Boehner, leaving him no way to save some face? Yes it does, and human nature being what it is, that’s truly unfortunate. But what other choice do they have? The newly Cruz-ified Republican Party has left them with no alternative.

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John Boehner Has Been Cruzified on a Cross of Tea

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Denny Hastert’s Republicans Are Gone, Gone, Gone

Mother Jones

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Eleanor Clift interviewed former House Speaker Denny Hastert for the Daily Beast this week, and the part that’s getting the most attention is Hastert’s claim that there’s never really been a Hastert Rule. But that’s not the most interesting part of the interview. It’s this part, where Clift asks him why there’s so much gridlock right now:

Pressed on the differences between then and now, Hastert said: “I didn’t have to deal with Barack Obama. I dealt with Bill Clinton, and he came to the table and negotiated.” In August 2000, with Clinton nearing the end of his term, Hastert needed to resolve some outstanding issues….Clinton asked, “What can I do for you?” “A haircut across the board,” Hastert replied. “I would suggest a 1 percent cut.” Can’t take that, Clinton said, offering all the reasons why that wouldn’t work. “What do you suggest?” Hastert asked him. A quarter of 1 percent, Clinton replied. “We dickered back and forth and settled on .86 percent, not because it was a magic number,” said Hastert. “But the moral of the story is Clinton would come to the table. I’m not going to go into the science of negotiating, but you can put one thing on the table and end up with something entirely different, but you’ve got to talk.”

I get that Hastert is being a good trouper here, and I don’t really blame him for that. But the real moral of the story is exactly the opposite of what he suggests. In 2000, he asked Clinton for a particular level of funding; he dickered for a bit; and then eventually settled for a little less than he originally wanted. By contrast, in 2013 John Boehner asked for a budget at sequester levels of funding; Obama eventually agreed to give him 100 percent of what he asked for; and then Boehner turned down the deal anyway.

The difference isn’t that Obama won’t dicker. The difference is that House Republicans aren’t willing to accept the funding levels they asked for in the first place. They won’t let the government reopen unless they get more, more, more. The issue isn’t Clinton vs. Obama, it’s Republicans in 2000 vs. Republicans in 2013.

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Denny Hastert’s Republicans Are Gone, Gone, Gone

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House Dems Have a New Plan to Reopen Government

Mother Jones

There’s been a lot of chatter this week about Democrats using a discharge petition to force the House to hold a vote on a clean CR. The idea is that if you can 218 signatures—200 Democrats plus 20 or so moderate Republicans—then the clean CR goes to the floor and gets a vote whether John Boehner likes it or not. Once those same 218 folks vote for it, it goes to the Senate and the game is over.

The problem is that even if you can round up 20 Republicans, which isn’t clear at all, there are delays built in that would prevent a discharge petition from coming to the floor anytime soon. However, Greg Sargent reports that House Democrats have found an old bill lying around that could serve as the base for a discharge petition that would take effect in about a week or so.

I have no idea if this is just more political theater, or if it has a genuine chance of working. But you can read all the details at the link. I expect to hear more about this over the next few days.

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House Dems Have a New Plan to Reopen Government

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The Business Community Doesn’t Really Care About the Government Shutdown

Mother Jones

Joshua Green writes in the current issue of Bloomberg BusinessWeek that business interests have lost their clout with the Republican Party. The evidence is the government shutdown: the business community is against it, but Republicans are prolonging the crisis anyway.

Fair enough. But I wouldn’t take this too seriously. Here’s a passage from Green’s story that explains why:

But the shutdown and debt ceiling are both matters where they do—and the unwillingness of Republican lawmakers to shift course underscores the diminished clout of their traditional business allies, despite the financial largesse. Asked by the Associated Press if he had heard business groups express alarm about the economic impact of a shutdown, Republican Representative Dana Rohrabacher of California replied, “No. And it wouldn’t make any difference if I did.”

Rohrabacher says two things here. The part that Green is writing about is the second half of his sentence: Rohrabacher claims that even if he got a lot of pressure from business interests, he’d keep the government shut down anyway. That’s big talk. But the more interesting part is what Rohrabacher said first: he hasn’t gotten a lot of pressure from business interests.

In fact, to hear him tell it, he hasn’t heard even a whisper from business groups. And I think that’s the key to all this: the Chamber of Commerce might be against the shutdown, but they haven’t made much of an issue out of it. My sense is that this is widespread. So far, anyway, the posture of the business community has been that, sure, they’re against the shutdown, but they don’t really care much. For now, they’re fine with the GOP continuing to play its games and make trouble for Democrats.

Do Republicans no longer care about corporate interests? Don’t be silly. This hasn’t even been tested yet. If Wall Street and the Business Roundtable and other groups start screaming seriously about this—and they will if it goes on long enough to cause some kind of market panic—then we’ll find out how much clout they still have. Right now, they’re just shrugging their shoulders and doing a bit of tut-tutting. Nobody should interpret that as a failure of business lobbying. They haven’t even been trying so far.

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The Business Community Doesn’t Really Care About the Government Shutdown

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Republicans May Be Cynical, But Democrats Need Better Answers

Mother Jones

As you know, the latest Republican ploy on the budget is to pass mini-CRs that fund a tiny handful of high-visibility programs: national parks, cancer treatment for kids, and keeping Washington DC running. This is all breathtakingly cynical, based on the idea that maybe the public won’t get too mad about what Republicans are doing as long as all the damage from the budget impasse is behind the scenes.

Still, the optics of the Republican ploy are pretty obvious, and it’s a little unnerving that Harry Reid could have been so unprepared to respond:

CNN’s Dana Bash asked Senate Democratic leaders if they’d back the new piecemeal bill.

“What right do they have to pick and choose what parts of government can be funded?” asked Reid.

“But if you can help one child with cancer, why wouldn’t you?” asked Bash.

….”Why would we want to do that?” asked Reid, keying off Bash. “I have 1100 people at Nellis Air Force base that are sitting home.” He concluded by asking why someone of Bash’s “intelligence” would ask something so silly. The video below reveals the gobsmacked faces of reporters.

Ugh. It’s irksome that reporters like Bash are so eager to play gotcha with obvious Republican talking points, but them’s the breaks. That stuff happens. Democrats need to have better answers, and they need to explain just why the Republican CRs are such contemptuous exercises in trying to gull the American public.

UPDATE: Commenters are up in arms about my interpretation here. There are two parts to this.

First, just as Reid started to say “Why would we want to do that?” Chuck Schumer interjected “Why pit one against the other?” A lot of you think Reid was keying off Schumer’s statement, not Bash’s question. That’s possible, though the video isn’t clear about this, and it’s not how I initially read it.

But here’s the second part: that’s not what I meant to criticize anyway. Honestly, I just took it for granted that Reid wasn’t literally saying “why would we want to help kids with cancer?” That’s Sean Hannity crap. I was objecting to his comment about Nellis Air Force base. He sounds as though he’s comparing some furloughed civilian workers in his home state with kids who have cancer. Fair or not, that’s going to sound bad.

Reid also needs to learn to stay on message. He began his statement with a decent enough response to the CRs, but before he finished he wandered off into an aside about Republicans being obsessed with Obamacare. That may be true, but it was completely nonresponsive and stepped all over the point he needed to make.

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Republicans May Be Cynical, But Democrats Need Better Answers

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President Obama Has Had Enough

Mother Jones

I like this Ezra Klein analysis of where we are in the budget/debt ceiling crisis. It picks up after the White House spent several fruitless months trying to negotiate with Republicans and eventually giving in completely to their spending demands. But even that didn’t do any good:

As the White House sees it, Speaker John Boehner has begun playing politics as game of Calvinball, in which Republicans invent new rules on the fly and then demand the media and the Democrats accept them as reality and find a way to work around them.

….The White House has decided that they can’t govern effectively if the House Republicans can keep playing Calvinball. The rules and promises Boehner makes are not their problem, they’ve decided. They’re not going to save him. And that also rules out unusual solutions like minting a platinum coin or declaring the debt limit unconstitutional. The White House doesn’t want to break the law (and possibly spark a financial crisis) in order to save Boehner from breaking a promise he never should have made.

Top administration officials say that President Obama feels as strongly about this fight as he has about anything in his presidency. He believes that he will be handing his successor a fatally weakened office, and handing the American people an unacceptable risk of future financial crises, if he breaks, or even bends, in the face of Republican demands. And so the White House says that their position is simple, and it will not change: They will not negotiate over substantive policy issues until Republicans end the shutdown and raise the debt ceiling.

I think Obama is right. Conservatives are basically trying to invent a new Constitution because they don’t like the way the current one works, and they’re doing it by threatening the equivalent of nuclear war if they don’t get their way. There’s simply no way that any president can give in to that.

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President Obama Has Had Enough

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I Am Now Very Confused by John Boehner

Mother Jones

I do not understand this:

With a budget deal still elusive and a deadline approaching on raising the debt ceiling, Speaker John A. Boehner has told colleagues that he is determined to prevent a federal default and is willing to pass a measure through a combination of Republican and Democratic votes, according to one House Republican.

The lawmaker, who spoke on the condition of not being named, said Mr. Boehner indicated he would be willing to violate the so-called Hastert rule if necessary to pass a debt limit increase. The informal rule refers to a policy of not bringing to the floor any measure that does not have a majority of Republican votes.

Other Republicans also said Thursday that they got the sense that Mr. Boehner, who held two meetings Wednesday with groups of House moderates, would do whatever was necessary to ensure that the country did not default on its debt.

That’s good to hear. But it doesn’t make sense. For months now, Boehner has been telling his caucus not to use a government shutdown as leverage to cut spending or defund Obamacare, but instead to use the debt ceiling as leverage. That’s been his consistent strategy since March.

But now he’s telling them that, in fact, the debt ceiling can’t be used as a hostage after all? That’s weird. Of course, at the same time that he’s been begging his caucus to use the debt ceiling as leverage, he’s also been promising that he will never “risk the full faith and credit of the United States.” So this has been confusing all along.

I don’t know what’s going on anymore. In the meantime, however, here’s a video of brave, brave Rep. Randy Neugebauer (R-Texas) publicly berating some poor park ranger for being stuck doing a terrible job that Rep. Randy Neugebauer (R-Texas) has forced her to do. Kinda makes you want to puke.

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I Am Now Very Confused by John Boehner

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Shutdown Update: Obama, Reid Offer to Talk

Mother Jones

Here’s the latest shutdown news: President Obama has called everyone to the White House to talk things over, and Harry Reid has sent a letter to John Boehner suggesting a “sensible, reasonable compromise.” Reid says that although he deeply opposed the Iraq War, he never threatened to shut down the government over it, and likewise shutdown shouldn’t be on the table over Republican opposition to Obamacare. So his offer is to go ahead and pass a clean CR, and then he’ll agree to a conference committee to discuss “the important fiscal issues facing our nation.”

That is indeed sensible and reasonable. It’s also something that Democrats have been willing to do for months. Republicans have resolutely refused, so it’s not clear what would change their minds at this point. But I guess we’ll see.

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Shutdown Update: Obama, Reid Offer to Talk

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