The debt ceiling again

There will be yet another meeting today to try to resolve the disputes regarding raising the debt ceiling. It truly seems strange that we are at this point. We have been told by president Obama that August 2 is a date beyond which the government will be unable to function without agreement on the debt ceiling. We have also been told repeatedly by all the talking heads on TV that if there was no agreement by the end of last week, it would be too late to implement any deal by the August second date. Of course, now that the deadline has come and gone, we hear no more about it. The new mantra is that the Obamacrats are offering a ratio of spending cuts to tax increases of three to one and that the cuts will include the entitlement programs. Next we hear that the evil Republicans have refused to agree to that deal. It would be funny if it were not so important for the country. Watching the various media flacks for the Democrats (which is basically the entire news media other than FNC) push this line makes me look for characters from Alice in Wonderland. Obviously, we have arrived at a point where words only mean what the speaker wants them to mean. Reality is fantasy and vice versa. Nancy Pelosi can throw an apoplectic fit on camera while telling the world that the Democrats will not support any change to Social Security, not even a change in the computation of the cost of living adjustment to bring it more in line with the actual CPI. The media, however, still tell us that Republicans are turning down a deal that includes modifications to entitlements. Perhaps the funniest thing is that no one has printed the contents of the actual "deal" being offered, all we get is the spin that comes from the politicians. It is inconceivable that the terms of the deal would not make their way into the press somewhere if there actually were terms that had been set forth by Obama. Washington just leaks too much. So, instead of talking about a reality in which Obama has no plan, we have arguments about talking points and the follow on spin.

In this context, it does not surprise me that the Speaker of the House announced that the "big" deal would not be doable and that the meeting today should focus on the deal that was discussed during the Biden negotiations. That takes taxes off the table, but it also takes the phony claims of entitlement reforms off the table too.

I hope that a rational result can be reached in the negotiations. Sadly, with Obama still not actually engaged in the talks, I doubt that will be the case. The USA needed a leader who recognized these talks as important and who actually paid attention to completing them. Instead, we have an egotistical president who likes to make speeches about things and who thinks that giving a speech is actually accomplishing something.