The Republican Bet

Published in Listin Diario
(Dominican Republic) on 18 July 2011
by J.C. Malone (link to originallink to original)
Translated from by Annerys Diaz. Edited by Gillian Palmer.
It’s an old game with clear and well-known motivations. Republicans put on an irrational show before the need to increase the borrowing capacity of the federal government, in the prospect of reducing the re-election chances of Barack Obama. They will keep the matter on hold until the last minute, buying time for their own purposes.

They will have to authorize an increase in the debt; otherwise, they will be responsible for a global financial and economic catastrophe.

If Washington can’t pay their own debts, interest rates around the world will become sky high, creating an authentic financial tax that will plague the entire planet. What, then, are they looking for? First, Republicans always remember that they are the government and that any Democratic president is a vulgar “impostor.”

That explains why they treated Bill Clinton as an “illegitimate president,” making every effort to remove him. They treat Obama as if he had taken power after a “coup d’etat.” Their second objective is to delay the economic recovery that, even though shy, encourages the Obama administration, in order to deepen the crisis.

They propose reducing the fiscal deficit by cutting public spending, which drives the economy everywhere, aggravating the recession and increasing unemployment as the presidential elections approach. If the government, the main national economic operator, reduces their expenses, other agents will also follow suit by reducing their own circulation, producing a kind of economic paralysis.

Federal Reserve Board Chairman Ben Bernanke defined with theatrical words the economic outlook if an increase in the debt of the federal government is not authorized.

The consequences would be “catastrophic, dire, a major crisis,” he said. That is exactly the objective of the Republicans, but in a “controlled” manner within the United States economy. That is how they expect to sabotage the possible re-election of Obama, but only time will tell if they will succeed.


Es un viejo juego con claras y conocidas motivaciones. Los republicanos montan un espectáculo de irracionalidad ante la necesidad de aumentar la capacidad de endeudamiento del Gobierno Federal, buscando reducir las posibilidades reeleccionistas de Barack Obama. Llevarán la cuestión en vilo hasta el último momento para tomar la decisión, ganando tiempo para sus fines.

Tendrán que autorizar un aumento en el endeudamiento, de lo contrario, serán responsables de una catástrofe económica y financiera mundial.

Si Washington no puede pagar sus deudas, las tasas de interés a nivel mundial pasarán las nubes, creando un auténtico impuesto financiero que pagará todo el planeta.

¿Qué buscan entonces? Primero, recordar que ellos siempre son el gobierno y que cualquier presidente demócrata es un vulgar “impostor”.

Eso explica que a Bill Clinton lo trataran como a un “presidente ilegítimo”, haciendo todo lo posible por destituirlo. A Barack Obama lo tratan como si hubiese tomado el poder tras un “golpe de Estado”. Su segundo objetivo es retrasar la recuperación económica que, aunque tímida, impulsa la Administración Obama, profundizando la crisis.

Ellos proponen reducir el déficit fiscal recortando el gasto público, que siempre motoriza la economía en todas partes, agravando la recesión, aumentando desempleo acercándonos a las elecciones presidenciales. Si el gobierno, el principal agente económico nacional, reduce sus gastos, los demás agentes también reducirán los suyos reduciendo el circulante, produciendo una especie de parálisis económica.

El gobernador del Banco Central estadounidense, Ben Bernanke, define con tétricas palabras el panorama económico, si no autorizan el aumento de la deuda del Gobierno Federal.

Las consecuencias serían “catastróficas, calamitosas, una crisis mayúscula”, dijo. Eso es exactamente el objetivo republicano pero de manera “controlada” dentro de la economía de los Estados Unidos. Así esperan sabotear la posible reelección de Obama, pero sólo el tiempo dirá si ganarán.
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