Bankruptcy Pending
The Republicans and the right-wing populist tea party movement bear the main responsibility for the crisis in the United States. They took the century-old routine of raising the debt ceiling and made it into a partisan political ceremony.
Suddenly, the impossible seems possible. The United States could declare bankruptcy for the first time in history within a few days. Instead of the showdown between Obama and the Republican Congress being dismissed as merely political theater, some opinion makers are now really worried.
Of course both sides have contributed to the political gridlock, but the main responsibility lies squarely with the Republicans. Driven by the right-wing populist tea party movement, they created a crisis that didn’t really have to come about. They took the century-old routine of raising the debt ceiling and made it into a partisan political ceremony.
Tea party activists are now talking and behaving like hostage takers. After weeks of negotiations, they refuse to budge an inch from their original all-or-nothing demands. Because of that, the chances are very good that the mistrust built up over the years between the parties will develop in a worst-case scenario on Aug. 2.
These radicals don’t even take heed of warnings coming from economists: They think there’s no danger of an inability to pay the bills, and that it’s all just a myth invented by Obama. This sort of reality denial hasn’t been seen since moderate conservatives in George W. Bush’s day were turned out of office. Today’s conservatives don’t “believe in” climate change, think evolution is “just a theory,” and stir up doubts about whether Obama is a “real American.” While much of what they believe can be dismissed with a wink and a nod, a national bankruptcy will have real and serious consequences.
The tea party movement may be on the threshold of accomplishing something none of America’s enemies have ever been able to do: totally destroy America.
Suddenly, the impossible seems possible. The United States could declare bankruptcy for the first time in history within a few days. Instead of the showdown between Obama and the Republican Congress being dismissed as merely political theater, some opinion makers are now really worried.
Of course both sides have contributed to the political gridlock, but the main responsibility lies squarely with the Republicans. Driven by the right-wing populist tea party movement, they created a crisis that didn’t really have to come about. They took the century-old routine of raising the debt ceiling and made it into a partisan political ceremony.
Tea party activists are now talking and behaving like hostage takers. After weeks of negotiations, they refuse to budge an inch from their original all-or-nothing demands. Because of that, the chances are very good that the mistrust built up over the years between the parties will develop in a worst-case scenario on Aug. 2.
These radicals don’t even take heed of warnings coming from economists: They think there’s no danger of an inability to pay the bills, and that it’s all just a myth invented by Obama. This sort of reality denial hasn’t been seen since moderate conservatives in George W. Bush’s day were turned out of office. Today’s conservatives don’t “believe in” climate change, think evolution is “just a theory,” and stir up doubts about whether Obama is a “real American.” While much of what they believe can be dismissed with a wink and a nod, a national bankruptcy will have real and serious consequences.
The tea party movement may be on the threshold of accomplishing something none of America’s enemies have ever been able to do: totally destroy America.