So, with Obama's signature the debt ceiling crisis is over until the next time. I think it's perfectly understandable for pretty much everyone to be somewhat disappointed in the final agreement, but maybe that's a good sign given all of the divisions in our politics. While disappointment is reasonable, some of the whining on the right and utter hysteria on the left is not.
Let's start with the right. Item one is that the agreement only cuts $21 billion in fiscal year 2012. Stop complaining, that's a feature, not a bug. Obama has been an economic disaster and he and his pals desperately want to find any excuse to get Republicans to share the blame. Any significantly large number going into the 2012 elections would have been used to blame Republicans for at least part of the struggling economy. That wouldn't be correct, but we're not talking right or wrong here, we're talking perception. Leading up to the 2012 election, there is now absolutely no credible way for Obama and the Democrats to use the coming cuts to blame Republicans for the economy.
Item two: Defense spending. It is possible that the agreement may force cuts in defense spending of up to $500 billion over ten years. Well guess what? That means we will only spend about $7 trillion instead of $7.5 trillion on defense over that decade. I don't think anyone can honestly tell me that there isn't 6.7% in that budget that amounts to waste or items we can do without. The DoD is going to have to do its share too.
Item one on the left: The hysteria over the Tea Party Republicans. Look, if you're a liberal or progressive Democrat, Tea Party Republicans are obviously your toughest political opponents. A little hyperbole is fine in politics, but they are not monsters, terrorists, or jihadists. Calling them those things just makes the left look insanely ridiculous. Look at this major dose of twit from Joe Nocera today:
You know what they say: Never negotiate with terrorists. It only encourages them.
These last few months, much of the country has watched in horror as the Tea Party Republicans have waged jihad on the American people. Their intransigent demands for deep spending cuts, coupled with their almost gleeful willingness to destroy one of America’s most invaluable assets, its full faith and credit, were incredibly irresponsible. But they didn’t care. Their goal, they believed, was worth blowing up the country for, if that’s what it took.
You know, there are real terrorists and jihadists in this world, and they would behead Joe Nocera, or you and me, in a heartbeat if they could. I'm sure on some level Nocera knows that Tea Party Republicans are not actually terrorists and jihadists, the main proof being his head is still attached to his shoulders, but he just can't muster the discipline to restrain his little hissy fit. I'm not above hurling a name or two around at times, but Nocera is just being stupid there.
Item two on the left: The brinkmanship of the right. It takes two to tango folks. Obama and Democrats displayed their own unwillingness to compromise at times too. I don't particularly like how the game got played here, but in the end everyone did compromise. It can be a rough game at times and all I can say to that is, it is what it is.
Item for both sides: This is just the beginning you know. Even the cuts that have been agreed to only put a dent in the total problem. This has been one battle in what will be a major political war that will last for years. If one or both sides exhaust themselves and/or their decency now those are going to be some even more painful, painful, years than they already are going to be. Everybody take a deep breath.
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