Fed Chairman Ben Bernanke got it right yesterday when he spoke to the Senate banking Committee on raising the debt ceiling:
Federal Reserve Chairman Ben S. Bernanke on Thursday rejected various alternatives to raising the country’s borrowing limit and urged Congress to come up with a “strong, credible plan” for doing so while cutting spending — or risk a making “self-inflicted wound” to the fragile economic recovery.
A “self-inflicted wound ” indeed. Now read Paul Krugman’s comments —- carefully —- on the unrelenting ignorance of the GOP. The article is entitled “Getting to Crazy.” News flash: we are already there. The GOP is not getting to crazy, but rather arrived there a while ago:
Bernanke and Krugman are not your typical partisan politicos. They are independent of any allegiance to either political party. Also, they are top experts in their respective fields. For Heaven’s sake, it’s not like they are Joe the Plumber. Their observations are accurate, and apply not only to these deficit negotiations but to our government as a whole.
I have numerous Republican friends. In our political discussions, I cannot help myself by expressing my utter amazement that they voted, in the 2008 presidential election, for $arah Palin for VP. Not only would McCain have been the oldest President to serve had he been elected, but also he had a very serious medical history. Who in their right mind would have voted for a ticket who plucked an ignoramus out of the blue to stand a heartbeat away from the Presidency? To this day, my GOP friends cannot justify their ballot for Palin. Yet they continue to defend their vote. Aren’t they embarrassed by their vote? I would crawl into the deepest, darkest hole and never emerge if I had voted for Palin. To add insult to injury, they would vote again for Palin if she ran against Obama. Talk about a “self-inflicted wound!”
Regarding these budget talks, this weekend will be a real cliff-hanger. May President Obama remain firm in his objectives to raise the debt ceiling, institute substantial cuts, raise taxes and not settle for any short-term band-aid approach. And may the GOP see the light.
To get us through the tension, here are some funnies: