The Republican Party has it exactly backwards:
• Don’t threaten to close the government down over ObamaCare;
• But do threaten not to raise the debt limit unless welfare entitlements are ratcheted back. The debt limit fight is the right place to make a stand. The public does not like debt or borrowing and realizes that excessive debt is at the core of our financial problems. Once we all see our premiums increase and the young see that they cannot afford the premiums or the fines they will face and the elderly start facing a denial of care, it will change. But all of America understands that our spending on welfare has skyrocketed and that we can’t afford it. Nobody wants to borrow to pay welfare. Who can but applaud a decision to stop borrowing until we stop spending? The time is mid-October when the debt limit is up and the place is over welfare entitlements.
Congressional Democrats have defected from President Obama on three key issues in recent weeks. First, 111 House Democrats refused to fund the National Security Agency surveillance program despite heavy pressure from the administration and House Minority Leader Nancy Pelosi. Approaching lame-duck status only nine months into his second term. And on three key issues — surveillance, war and crony capitalism — Obama has become suspect in Democrats’ eyes. The revelations of NSA spying, initially brought into public view by Edward Snowden. When Obama was shown up by Russian dictator Vladimir Putin and his speech fell flat, it was so evident that he couldn’t deliver Democrats that Senate Majority Leader Harry Reid (D-Nev.) quietly shelved the resolution to await a U.N. vote. Under former President Clinton, 45 percent of all new personal income went to the top 1 percent. Under former President George W. Bush, it was 65 percent. So far under Obama, 95 percent of the income has gone to the richest 1 percent.
When Clinton allowed the repeal of Glass-Steagall, largely on Summers’s advice, the gambling ratcheted up. Now banks could use federally guaranteed depositor money to bet on iffy investments. With the Fed shipping $85 billion each month to Wall Street, brokerage executives and bank officials can earn vast sums by gambling on derivatives.
Yellen, the Fed heir apparent, is no better than Summers. Her tenure as vice chairwoman of the Fed under Bernanke is enough to signal her support of crony capitalist gambling. She is likely to hold interest rates down, nominally to encourage job creation but in reality to provide free money to Wall Street’s government-guaranteed derivatives gambling casino.
The government now pays 3/4 of the health care premiums for members of Congress and the staff. But ObamaCare bars subsidies for anyone making more than $94,000 a year. Obama,Boehner, Pelosi, McCain, Cantor, Graham, Corker,
Might appear to have nothing in common. But they do: They are the insiders who represent the military industrial complex on Capitol Hill. Their support of war and crony capitalist economic policy is anchored by the dependence on the goodwill and generosity of the K street lobbyists who feed the complex with daily massive helpings of public funding.
But it may not come to a vote. Putin has pulled Obama’s chestnuts out of the fire.
Putin’s proposal to place Bashar Assad’s chemical weapons under United Nations supervision must have been vetted by Damascus. Assad wins every way. He gets a pass on his past use of chemical weapons he can’t use them anymore anyway; He doesn’t get bombed.
Sources-dick morris, the hill, tea party move.on,