About 'books on debt'|Book Review - Debt: The First 5,000 Years by David Graeber
COMMENTARY | Everyone wants to be the hero and not the villain when it comes to the debt crisis in Washington. After dueling bills on Friday and Saturday, now negotiators tell the media both sides are suddenly "very close " to a debt deal today with a deadline of default looming Tuesday. Both sides blamed the other for not getting a deal done sooner. The GOP wants to have sharp government spending cuts. Democrats want a balance of cuts and higher taxes for the rich. The proposal on the table now raises the debt ceiling until past the 2012 general election, adds a balanced budget amendment debate to Congress and doesn't raise taxes. This last-minute deal-making is the same thing that happened in December 2010 when the session of Congress was about to end. President Barack Obama made a deal with Republicans to keep the Bush-era tax cuts on the books for the wealthy while approving unemployment benefits for the poor. Later in the session, the military policy of "don't ask, don't tell" about gays serving in the armed forces was repealed to allow openly gay citizens to serve in the military. What motivated Congress and the White House to get stuff one then is the same thing that they're doing now. Everyone loves a hero. They want Superman to stop the nuclear missile at the last second. Spider-Man saves Mary Jane just as the Green Goblin is going to make her plunge into the Hudson. Congress and Obama save the world economy from a crisis of epic proportions within hours of the debt default deadline. Things won't change until after the 2012 general election, if at all. When everyone gets to be the hero on debt default day, the heroes will be re-elected. Speaker of the House John Boehner and Senate Majority Leader Harry Reid aren't winning this fight by sticking to their guns, they become the perceived heroes by signing a peace treaty with the opposing party. Everyone in politics should realize the same thing. Nothing gets done when the participants in the process play with fire because everyone gets burned. It's a tried and true cliche that even kindergartners know. It's always the polite thing to share with one another instead of take each other's toys. In the final analysis, Obama will use this situation to his advantage in the 2012 election. He gets to say that Republicans came up with a plan for fixing the debt solution even though they were the ones who got us here in the first place. The GOP seems to forget it was in 2008 that the economy went under due to predatory home lenders under the watchful eye of President George W. Bush. The situation happened after the Republicans gave the wealthy their tax cuts in the first place. Add to that, Republicans willingly raised the debt ceiling several times during the Bush Administration to help pay for two costly wars. Everyone gets to be a hero now. But then things will get nasty when the 2012 general election heats up. William Browning is a research librarian specializing in U.S. politics. Born in St. Louis, Browning is active in local politics and served as a campaign volunteer for President Barack Obama and Missouri Sen. Claire McCaskill . |
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From credit card debt, to books, friendships, kids, school, work..., and everything inbetween. It just goes on, and on, and on, and on............and on.
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