MAINLY FOR AMERICANS, AND THOSE AFFECTED BY THEM — The Debt Ceiling Debate

Posted on by under Economic issues, Election 2022, Global Issues, History, Political commentary, Re-blogs

On Tuesday, I read, saved and bookmarked Robert Reich’s newsletter about the debt ceiling, planning to share it sometime soon, but I hadn’t gotten around to it yet. Meanwhile, our friend rawgod beat me to the draw, so in the interest of not re-inventing the wheel, I shall re-blog rg’s post! Please take a few moments to read this piece, for it clears up some miscomprehensions about what the debt ceiling is and how critical it is to the very survival of this nation. Thanks, rg!

Ideas From Outside the Boxes

Following are the words of Professor Robert Reich, once upon a time the Secretary of Labor in the Clinton administration. He is now, and has long been, an American professor, author, lawyer, and political commentator. He also worked in the administrations of Presidents Gerald Ford and Jimmy Carter. I believe he knows the truth about what he is saying.

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Friends,

Few things make me as furious as the mainstream media’s reluctance to tell the public what the Republican Party is doing — and instead hide the truth behind “both sides” rubbish. How the hell can democracy work ifTheNew York Times,CNN, and even National Public Radio obscure what’s really going on?

Let me state five central truths about the pending fight over the debt ceiling and show you how the mainstream media is distorting each of them.

Truth #1: The fight is being waged solely by the…

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9 thoughts on “MAINLY FOR AMERICANS, AND THOSE AFFECTED BY THEM — The Debt Ceiling Debate”

    • I have to ask … how so? Rawgod is, for he is Canadian and some of the madness here is filtering up through our northern border into Canada, but … you’re in South Africa, so how are you being affected by us? Just a friendly question, so don’t get annoyed, okay, but I’m honestly curious.

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      • Easy answer, partly answered by Barry.

        But I’m not originally South African, only have Permanent Residency permit hereabouts. But in my main life as Gerwoman I’m affected as well. Our fukked up chancellor just pledged to go weapons shopping in America for 100 billion €uros. I, like most Germans, can think of muuuuch better ways to spend our tax moneys: Hospitals and Autobahns have to be built, our train system urgently need a restoration, our unis are short on funds, kindergartens are hopelessly overburdened, growing numbers of pensioners and unemployed need money while the economy is tanking … all that to me seems wayyyyyyyyyyyyy more urgent than provoking Russia into the next global war.

        And most aggravating of all shit is the simple fact that nobody in the govmt seems to be up to speed with recent global developments during the last 30 – 40 years. The Americans don’t even try to hide it that the whole Ukrainian action is aimed at Germany as well, if not more, than at Russia. Their declared goal is to drive a wedge in between Russian/German relationships. And still Scholz, Bärbock and Habeck are playing nice and are totally loyal NATO members. 😦

        Fortunately is the German populace slowly moving away from the official German stance. I guess in the long run only something drastic will help world peace and happiness for everybody: A hard cold turkey divorce from America. :/ And, honestly, living in South Africa has shown us how little the collective West has to offer the rest of the world.

        SA, eventhough a Russia-friendly nation and founding member of BRICS, has to suffer the same global crisis and problems as every other country. Petrol prices are said to rise again come February, interest rates have just gone up by 10%. Hubby and me, we’re so happy that we are debt-free as of last year. But the altogether worrisome state of the Western economy is caused for the biggest part by a completely needless private vendetta of the USA against Russia. 😦

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    • Probably everyone who isn’t an American is in the second category. We have a saying: “When America sneezes, the world catches a cold. It’s probably true of most most small and medium sized nations.

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  2. Jill, Reich’s words jive with that of Maya MacGuineas, the executive director of the nonpartisan Committee for a Responsible Federal Budget. I agree with each one of Reich’s conclusions, especially the one about Democrats handling the debt better than Republicans, even though neither party does well with it. We are at a point where we must cut expenses and raise taxes. To me, what George W. Bush did to unbalance the budget over his Secretary of Treasury’s resistance and what Donald Trump and Republicans did in December 2017 by reducing taxes was poor stewardship. In my view, anyone who can fog a mirror can reduce taxes. Keith

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    • Yes, they do, and like you, I fully agree with his points. And, I agree with you that we need to both cut expenses and raise taxes on those who can best afford it. However, I do not trust the Republicans to decide where that cost-cutting would take place, for we both know they will cut programs that hurt those who can least afford it. I like your mirror-fogging reference!

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