Tuesday, August 02, 2011

What Iceberg?

After legislative extortion of an unparalleled magnitude, the House has finally passed a bill that would raise the Debt ceiling. It will also do a number of other things that many of us predict, will not help the country at all. Lost in the shuffle was the whole question of jobs. No matter how much one cuts from the Federal Budget, unless there are increased revenues (from taxes, from those who have jobs), we will never even come close to that fiscal Nirvana of a balanced budget (which, we had, by the way, under Clinton only to be destroyed by Bush II and his two tax cuts. Tax cuts that were supposed to help the "job creators" but simply transferred a large amount of wealth into the pockets of the obscenely rich. But you knew that.)

The Senate has yet to vote on this bill but it is said that it is a foregone conclusion that it will pass. Mitch McConnell is already gloating and talking about the members of the "super committee." Excuse me, Mr. McConnell, since when were YOU Majority Leader of the Senate? Was this simply a vote or, as many of us suspected, a coup d’etat.

We used to think of bailing out to Vancouver or Ireland. Those options have had their own problems recently. Why leave in any case since the theater is so good and the second half promises to be full of surprises.

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