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  1. Well-put, Mr. Dunsmore. Jonathan Chait has a good piece on The New Republic’s blog about how the Villagers in DC all rallied `round the “cut spending now” mantra, with a particular shout-out to the Washington Post editorial page. http://www.tnr.com/blog/jonathan-chait/92941/the-debt-ceiling-crisis-and-the-failure-the-establishment

    I would add there has been too little mention of the actual origins of the deficit/debt problem — tax cuts, two wars on the nation’s credit card, and the Medicare Part D prescription drug legislation that specifically forbade Medicare from negotiating drug prices. (Imagine if that were a nut graf in every major news story.)

    Add to that the spending necessary to just keep the country and our people afloat in Depression II, and, to paraphrase Everett Dirksen, you’re talking about real money.

    Wonder, too, if Americans were reminded on a regular basis that deficits didn’t matter to Republicans until this past year, and that the debt ceiling has been raised without a fuss many times before, including 7 times during the Bush years.

    All that seems more or less to have fallen down the Memory Hole, while the Right continues to push falsehoods about social spending, tax cuts, and entitlements.

    Then there is the little matter of overwhelming majorities of Americans favoring a balanced approach to the deficit, namely, revenues and spending cuts, a consensus ignored by both Congress, the President, and much of the media.

    The perception is that the Tea Party is essentially driving the lawmaking process right now, and to a certain extent, that’s correct. Therefore, in DC terms, they are the story, not the causes of the deficit, different solutions, or even the millions of Americans who are about to become less economically secure because of the deal that apparently has been struck.

    Sad.

  2. The problem is that so much of the mainstream media (for lack of a better phrase right now) has to break every few minutes to display ads from the big corporations that they have to bow down too for revenue. This corporations do not want us to remember that Bush raised the debt ceiling 7 times without so much as a whimper out of the GOP; they are making out big time and do not want us to know how good the war business is for them so it is much easier to blame the debt on the poor.

  3. The general public narrative regarding this whole debt limit crap is as phoney as phoney can get: the only ones who have not compromised are the radical right wing Republicans (which accurately describes today’s Republican Party).

    On the other hand the only ones to continue raising the white flag of semi-agreement and cowardly acquiescence are those members of the DC Democratic Surrender Machine (a machine that include Leahy, Sanders and Welch).

  4. Many of the critics of the US economy are saying that the debate is another fear tactic to further undermine the US economy by making the US dollar more worthless. We enjoy a very high standard of living compared to the rest of the world. If we are to become part of the world economy, the standards of the US have to drop to level out and the other nations standards have to rise. When the value of the dollar drops, as it will due to the massive printing of money based only on credit, payback will be demanded by the lender. China is our biggest lender but they are now not liking the direction we are going with our unbacked paper currency. Can we stiff China and get away with it? Probably. NOT!!! Suggestions anyone?

  5. The media has been sitting on the fiscal fence for decades
    which one might argue is why we are where we are today. The
    recent SS revelations are classic. I don’t think anyone has ever mentioned that in ’09 & ’10 we added close to $150B per month to the National Debt. We don’t know what it is this year because effectively we haven’t been told in three [3]months. June marked our 33 consecutive monthly operational loss aka Deficits hitting the $3.6 trillion bell…August looms.

    Has anyone dared to take issue with the 10 year projected economies vs expenditures in the current brouhaha? I have yet to see or hear anyone divide the former by 10 on a comparative basis. How about the Debt flirting with the GDP? The U-6 unemployment figure etc. etc.

  6. Just think. Mr Dunsmore used to be a major figure in the nations mainstream media. Now he can show himself to be the real partisan he’s always been.

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