From a great blog, ataxingmatter
Reaganomics and the GOP’s Economic Terrorism
This debt-ceiling crisis is one of the GOP’s making and relates directly to the failed policies of militarization, deregulation, privatization, and tax cuts espoused by Ronald Reagan and his satraps. Even the Washington Post (a right-of-center mainstream paper with a reduced staff and a tendency to describe economics and policy in the ‘received wisdom’ of Washington circles, which means that it tends to reflect corporatist and elitist perspectives more than it reflects ordinary Americans’ thinking) recognized the way the Reaganomics tax-cut train has gained speed as it moved out of the station (spurred, of course, by the Koch and Walton money and the power of a dozen propaganda tanks spewing out the dogma on a daily basis)…
So now these unpatriotic government-hating, economy-destroying idiots (sorry, folks, there’s just no other word for them) want to renege on the decisions Congress has made by just not raising the debt ceiling, simply because this anachronistic mechanism happens to be there available for them to use as a tool in their economic terrorism fanny pack. This isn’t the way to make appropriations decisions or tax policy folks. It’s the way to destroy the economy.
Obama is agreeing to let the Republican’s adle-brained ideology get a victory in this battle, a victory that will be a resounding defeat for ordinary Americans as it undermines an already shaky social welfare system and favors further the corporate giants that are being advanced by the Supreme Court’s radical right and the Tea Party alliance with the economic fundamentalists like the Koch brothers, Heritage Foundation, Cato Institute and others. Instead of shaming them, Obama–surrounded by right-wingers in moderate clothing such as Geithner and the rest–is caving yet again and letting them set the agenda for Congress.
A minority party with a radical slant followed by less than a third of Americans is setting tax, war, and civil rights policy, because we have a president who is either afraid of his shadow, being handled by those who don’t give a damn about the issues that matter, or so sold out by being surrounded by the big money guys that he doesn’t even recognize that he has betrayed union workers, ordinary Americans, the elderly, and everybody who dreams of freedom from a country run by the corporations and the ir wealthy managers and owners for the corporations and their wealthy managers and owners.