Was the Wisconsin recall election a loss? Markos doesn’t think so:
But let me just say, if tonight was a loss, I hope we have many more such “losses” in 2012.
We took the fight into red territory, and took two seats. What was a safe 19-14 GOP advantage is now a narrow 17-16. If we had those numbers going into 2011, the anti-labor bill would never have passed—one GOPer voted with the Democrats (and hey, Sen. Dale Schultz, the water is mighty fine on our side of the aisle!).
The execrable Randy Hopper is gone. He can cry in his 20-something-year-old mistress’s arms tonight. And Kapanke too. It sucks being unemployed in Wisconsin these days. Maybe they can get a non-union job at McDonald’s.
Beyond Wisconsin, if we can enjoy a similar “loss rate” in Republican-held districts (picking up 33 percent of them), Speaker Nancy Pelosi will have a huge majority in 2013. We had a message that resonated with large numbers of working people in overwhelmingly white working-class districts that shifted hard against Democrats in 2010. GOP overreach is winning them back for us. Just think, before today, only 13 state legislators had been recalled in the entire history of this nation.
I highlighted that one sentence above, because just imagine all the trouble, heartache, unemployment, and overall dumbfuckery that could have been avoided if more people who voted in 2008 had bothered to vote in 2010. The people who stayed home handed Wisconsin over to the anti-union, pro-Koch, aggressively stupid teaparty wingnuts — hell, they handed over the entire country to them in the form of John Boehner and Congress and the past seven months worth of freshmen TP-Republicans attempting to destroy our country by doing nothing good on purpose.
What did you “accomplish” by staying home again?
Obama said that securing a long-term deficit reduction plan would provide “more room” to agree to a set of job creation measures, including extending the payroll tax cut, extending unemployment insurance, and creating an infrastructure bank. He called for Congress to pass those measures immediately, though Republicans have thus far refused.
Obama said he would unveil his proposals for how the “Gang of 12″ supercommittee should further reduce deficits in the coming weeks. He argued that discretionary spending had been reduced as far as it could go and that future deficit reduction efforts should focus on tax reform and “modest adjustments” to Medicare.
President Obama also honored the troops who were killed over the weekend in Afghanistan.
Press hyping Dow's dip below 11K. But since 2009 when Dow climbed from 6K to 7K, 8K, 9K, 10K, 11K, and even 12k, press was mostly quiet—
Eric Boehlert (@EricBoehlert) August 08, 2011
REMINDER: Obama is responsible for Dow, but *only* when it goes down.—
ThinkProgress (@thinkprogress) August 08, 2011
They hate President Obama just for being elected more than we hated Bush for 8 years of incompetence and decline.—
Pete Nicely (@LOLGOP) August 08, 2011
When you have one party whose main goal is to defeat a man instead of healing a country, there's going to be problems.—
(@ChicoDelainky) August 08, 2011
Patriots, plain and simple. (And THAT’S called sarcasm.)
I see ONE HEAD without gray hair in this crowd of idiots — and you and I both know that probably means the majority are drawing government assistance (Social Security / Medicare):
(via: Alan Colmes)
They really are childish, aggressively stupid, resentful, angry fools who lash out like crabs in a bucket.
Appearing on Meet the Press today, Sen. John Kerry (D-MA) slammed Republicans’ and the Tea Party’s intransigence and hostage taking on negotiating over the debt, calling S&P’s downgrade of U.S. debt the “Tea Party downgrade”.
Indeed, S&P said it made the move in part because Republicans took the debt ceiling hostage and refused to consider raising taxes.
Steve Benen: Let’s take a stroll down memory lane, shall we? (posted in full):
1980: Ronald Reagan runs for president, promising a balanced budget
1981 – 1989: With support from congressional Republicans, Reagan runs enormous deficits, adds $2 trillion to the debt.
1993: Bill Clinton passes economic plan that lowers deficit, gets zero votes from congressional Republicans.
1998: U.S. deficit disappears for the first time in three decades. Debt clock is unplugged.
2000: George W. Bush runs for president, promising to maintain a balanced budget.
2001: CBO shows the United States is on track to pay off the entirety of its national debt within a decade.
2001 – 2009: With support from congressional Republicans, Bush runs enormous deficits, adds nearly $5 trillion to the debt.
2002: Dick Cheney declares, “Deficits don’t matter.” Congressional Republicans agree, approving tax cuts, two wars, and Medicare expansion without even trying to pay for them.
2009: Barack Obama inherits $1.3 trillion deficit from Bush; Republicans immediately condemn Obama’s fiscal irresponsibility.
2009: Congressional Democrats unveil several domestic policy initiatives — including health care reform, cap and trade, DREAM Act — which would lower the deficit. GOP opposes all of them, while continuing to push for deficit reduction.
September 2010: In Obama’s first fiscal year, the deficit shrinks by $122 billion. Republicans again condemn Obama’s fiscal irresponsibility.
October 2010: S&P endorses the nation’s AAA rating with a stable outlook, saying the United States looks to be in solid fiscal shape for the foreseeable future.
November 2010: Republicans win a U.S. House majority, citing the need for fiscal responsibility.
December 2010: Congressional Republicans demand extension of Bush tax cuts, relying entirely on deficit financing. GOP continues to accuse Obama of fiscal irresponsibility.
March 2011: Congressional Republicans declare intention to hold full faith and credit of the United States hostage — a move without precedent in American history — until massive debt-reduction plan is approved.
July 2011: Obama offers Republicans a $4 trillion debt-reduction deal. GOP refuses, pushes debt-ceiling standoff until the last possible day, rattling international markets.
August 2011: S&P downgrades U.S. debt, citing GOP refusal to consider new revenues. Republicans rejoice and blame Obama for fiscal irresponsibility.
There have been several instances since the mid 1990s in which I genuinely believed Republican politics couldn’t possibly get more blisteringly ridiculous. I was wrong; they just keep getting worse.
But it’s Caturday and want cereal and to watch more Arrested Development WHILE THESE THINGS STILL EXIST!
(emphasis below is mine):
So the first reason for the downgrade was the irresponsible and flaky behavior of the Tea Party, which created an artificial crisis for the benefit of its Koch Brother patrons, so as to throw more government resources at the super-rich and fewer at ordinary people.
The second reason for the downgrade was Dick Cheney’s insistence on deep tax breaks for the ultra-wealthy, and the Republican Party’s refusal to revise them. Obama wanted to raise taxes on the multi-millionaires and billionaires, but didn’t have the votes in the Senate to do so, and the Republicans threatened to take the welfare of ordinary people hostage (as they just did with the debt ceiling mafiosi tactics). I thought at the time that Obama should have dug in his heels and just called the Republican bluff, since it was clear that they would use those tactics on him at some point anyway.
Standard & Poor is saying that if you project out the US structural deficit – caused mainly by the Bush tax cuts, prescription drugs give-away and debt-financed wars – over the next ten or fifteen years, it is going to get worse and worse because rich people have started refusing to pay their taxes in the US. There is a long-term structural deficit that the Republicans in Congress are refusing to allow the country to redress. In short, they are talking about this chart, which I posted last week:
[…] Most of our problems come from the US government coddling very rich people, which it does because the very rich pay for politicians’ campaigns and expect a payback. And as more and more of the country’s wealth has gone to the 750,000 families, they have gained more and more control over Congress. (Of course, it is the 400 billionaires who are the big players here). Their interests are increasingly not the same as the interests of the rest of us, and they are intent on screwing us over big time.
Standard & Poor does not care about whether rich people feel coddled. They want to know whether the US government is going to pay back the trillions it is having to borrow because it won’t tax the people with trillions of dollars. They don’t see how it can be sure of doing so with real dollars that are worth anything (the US government can always print more money to “pay,” but that will cause the real value of the currency to fall). So they are warning investors about that.
The likely outcome is that it will be more expensive for the US government to borrow money, which will worsen the debt crisis.
The long term effect of these trends will certainly be the decline of the United States, which has already begun. And it will be a further decline in the standard of living of middle class people in the US.
I spent the summer in places like Tunisia and Egypt, where people were similarly taken advantage of by the corrupt and the wealthy and by the politicians the latter bought, and where they rose up and got rid of the miscreants. It is a matter of some astonishment that most Americans are just bending over and taking this treatment without so much as a protest.
What’s even more astonishing to me are the working- and middle-class teaparty base voters who are either ignorantly or willfully supporting Republican policies that go against their own self interests. Is a black man in the White House REALLY that upsetting? What am I missing?
That only took 7 months — and it’s an historical first! When bad things happen to our country, expect the Teaparty to be there cheering their handiwork.
More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011. — S&P Downgrades U.S. Debt Rating — WSJ Press Release
“When you look at this final agreement that we came to with the white House, I got 98 percent of what I wanted. I’m pretty happy.” — Speaker of the House John Boehner, August 1, 2011, CBS News interview
And for what? The wealthiest 1%? To make them wealthier?
“I think some of our members may have thought the default issue was a hostage you might take a chance at shooting. Most of us didn’t think that. What we did learn is this — it’s a hostage that’s worth ransoming. And it focuses the Congress on something that must be done.” — Senate Minority Leader Mitch McConnell, on the GOP. Don’t call them terrorists though. [WP via Political Wire]
“Our top political priority over the next two years should be to deny President Obama a second term.” — Senate Minority Leader Mitch McConnell, speaking at the Heritage Foundation in 2010 (video below)
From now until the 2012 election, not one American should forget either of these statements.
I’ve put off talking about S&P’s credit downgrade all morning, but I can’t hide from it by watching Arrested Development on Netflix download forever. Here we go.
Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.
What would S&P have to see to raise U.S. credit rating back to AAA?
Our revised upside scenario–which, other things being equal, we view as consistent with the outlook on the ‘AA+’ long-term rating being revised to stable–retains these same macroeconomic assumptions. In addition, it incorporates $950 billion of new revenues on the assumption that the 2001 and 2003 tax cuts for high earners lapse from 2013 onwards, as the Administration is advocating. In this scenario, we project that the net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.
In other words, LET BUSH TAX CUTS FOR THE WEALTHY LAPSE! We need new revenue! We have spending problems COMBINED with a revenue problem. Duh.
Thank the teaparty, John Boehner, hostage-taker Mitch McConnell, Eric “I want what I want when I want it” Cantor, and all the members of the Republican-led House for bringing America into this historic milestone of a credit downgrade.
Once upon a time, Osama bin Laden wanted to bring economic collapse to the U.S. Ironically, it’s the Teaparty that seems to be on track to fulfill his wishes.
He addresses the nation and the next day, look at what happens! OBAMA IS RUINING AMERICA!! DAMN SOCIALIST!