Fox “News” Spills The Beans About The True Republican Agenda In The Debt Ceiling Debate

There is a very interesting post on Crooks & Liars about the Republicans’ true goal in this debt ceiling melodrama currently playing out in Washington. According to the article, Senate Majority Leader Reid is calling the Republican’s bluff. According to Matt Yglesias (a columnist at ThinkProgress.org):

In the debate over the debt ceiling, for example, Republicans have sought to portray themselves as having two bottom lines. One is that any increase in the debt ceiling must be met dollar-for-dollar with spending cuts. The other is that no revenue increases can be part of the deal. What Harry Reid did yesterday was essentially call the GOP’s bluff by outlining a plan that raises the debt ceiling by $2.7 trillion and includes $2.7 trillion in spending cuts, a healthy share of which comes from winding down the wars in Iraq and Afghanistan.

Republicans are rejecting this even though it nominally meets their demands. Why? Because it doesn’t achieve either of their two real objectives. In particular, the plan doesn’t cut Medicare, which means that Democratic party candidates for office in November 2012 and 2014 can accurately remind voters of the content of the Republican budget plan. In case you forgot, this plans repeals Medicare.

The three people named in the following quote are Stuart Varney, a business reporter at Fox, and Steve Doocy and Brian Killmeade, two of the three hosts of Fox’s morning program ‘Fox And Friends.’ Back to Crooks & Liars.

So here we are with a deal that satisfies (sort of) the “no revenues” requirement alongside the “cut dollar-for-dollar” spending requirement. And as you’ll see from Stuart Varney, the answer will still be “no”, just as it has been all along.

Varney: That’s why I say, the likelihood of this downgrade (*) — let’s be clear — a downgrade means you lose your financial reputation, you’re not the gold standard any longer.

Doocy: But it’s different than default.

Varney: It is different from default. I am now saying a downgrade now looks very likely, bearing in mind this chaos over the weekend and this Harry Reid plan which means absolutely nothing to investors.

Killmeade: It seems as though they’d say if we do something drastic enough that shows people that we’re on a fiscal sustainable path — something Titanic — we could avoid that, don’t you agree?

>Varney: I would agree with that. If we got our house in order and said we’re going to tackle entitlements, we’ll go after this, we’ll do something concrete. If you did that, the likelihood is that the stock market would go up.

Unspoken but implied: The likelihood is that you’d get a deal on exactly the terms Republicans want. Destruction of the social safety net in exchange for an unchanged credit rating and raised debt ceiling.

(*) A downgrade means a reduction in the United States’ credit rating from AAA, where it has always been, to something lower. Varney says such a reduction “looks very likely.” This would immediately increase interest rates. I read recently somewhere that a 1% increase would increase the annual cost of servicing the national debt by $130 billion dollars. It’s currently about $160 billion, with the AAA rating, so this would nearly double it.

This reveals that the Teabaggers would rather see people die than take any sort of fiscally responsible action. This debt ceiling crisis is entirely of their making. Cutting trillions out of the Federal budget is the worst thing that can be done during a depression, and it will put a lot more people out of work and take a great deal of money out of the economy. The only sensible thing to do is raise taxes on the millionaires and billionaires, and ensure that corporations which make billions in profits cannot get away with paying little or no taxes. The huge majority of Americans believe this, over 70% at least. Congress and the President work for us, not the super-rich and the corporations, no matter how much they would prefer it.

Remember, too, that the national debt nearly doubled under President Bush and three Republican Congresses, from about $5 trillion to nearly $10 trillion, and that trying to repair the economy that the Bush-era Republicans nearly destroyed has cost another $2 trillion or so. It’s a shame that angry constituents cannot recall their venial and hypocritical representatives like the voters in Wisconsin are doing with their local ones.

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5 Responses to Fox “News” Spills The Beans About The True Republican Agenda In The Debt Ceiling Debate

  1. big Jim says:

    It’s not my job to run the train,
    the whistle I can’t blow.
    It’s not my job to say how
    far the train can go.
    It’s not my job to let
    out steam or even clang the
    bell, but let the damn thing jump the track
    and see who catches hell.

    OK now all you old folks get on the train we are headed for pain and suffering.
    Hey who is driving this darn thing?

  2. jim says:

    It’s not my job to run the train
    the whistle I Can’t blow.
    It’s not my job to say how far the
    train is allowed to go.
    It’s not my job to let off steam
    or even ring the bell.
    But let the damn thing jump the
    track and see who catches hill.

    Well my fellow seniors we are the passengers on the train headed for Medicare/Medicaid
    with the republicans at the throttle, full steam ahead.

  3. revenuer says:

    George,

    Your post was a classic example of why we will not moderate Conservatives. Conservatives from Bush on make up less than 30% of the population, but they want 100% of the control of this country. The Tea Baggers who have triggered all of the budgetary problems they are calling a general deficit make up a small part of the 30% extremist minority. So here we have the minority of the minority trying to tell the rest of us what to do. The Debt Ceiling fiasco is their street theater to try to cover up their ongoing and very real desire to repeal Medicare and gut Social Security. They trumpet it proudly while Rupert Murdoch, their great guru, is slowly having his many criminal acts and complete lack of ethics exposed as the UK and hopefully the US slowly extract his financial empire from him.

    Conservatives want to run everyone else’s life. They want to choose our religion. They want to decide which values we stand for to the point of letting people who are elderly, disabled or poor die on the streets. They are the archtypical bullies who are not happy unless they are inflicting pain and mortification on people who are simply trying to live reasonable lives and make better lives for thier children.

    Conservatives want our children to remain ignorant. They want to eliminate the ability of the middle class to find jobs and then mock them because the only way they have to survive is to collect unemployment benefits. Another program they want to abolish. Conservatives are steadily cutting and eroding veteran’s benefits, to the great detriment of the military. We are Quakers and oppose war, but we recognize that soldiers have made their own commitment to what they feel is right by enlisting and serving in the bogus wars which George Bush started and Obama continues. Soldiers stand for something. They have convictions they are willing to die for. Conservatives have nothing. No conscience, no ethics and no convictions other than greed and contempt for people who have less or need help.

    They have infiltrated most of the media outlets, like roaches and are just as difficult to avoid. On this blog, however, they are not going to comment or plant their seeds of fear and mistrust or their lies and misinformation. They are not going to tell us what to say or how to say it.

    It astonishes me George that you think that you can tell us not to discuss our political views. This is our blog. You are a visitor. If you don’t like something, don’t read it. It is very simple. Your post is going to the spam folder as will any emails you write. We do not suffer fools lightly and consider that Conservatives fall into that category.

    Anyone who disagrees with something we write is free to say so. Disagreement and discussion is healthy. Censorship is not. Trying to tell us what we can and cannot think or write is censorship and will not be tolerated.

    From now on all posts and emails from Conservatives will go straight to the spam folder without comment or moderation. If you have a thought that really can’t wait, go to the Free Republic and try to tell them what they can write. It would be a very interesting evening for you. You would probably feel right at home.

  4. thuumper says:

    Sounds like obama care,they tell us where we can and cannot buy or insurance from

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