Brother McGurn Says We Won
Once again, Brother McGurn has proven too modest to post any news here on Ricochet of his latest column in the Wall Street Journal. Excerpts:
[I]t's hard to look at the debt-ceiling compromise and see it as anything but a conservative victory. It's not just that Speaker of the House John Boehner succeeded in imposing some conditions in exchange for an increase in the debt ceiling. It's that the deal has Democrats, including the president, essentially signing on to the Republican framework for defining the Beltway's budget problem: spending that is too high rather than taxes that are too low.
For the moment, the press focus remains on the intra-conservative spat between Republicans who favor Mr. Boehner's deal and tea partiers who largely oppose it. These disagreements will fade, however. And come the 2012 elections this deal will help force the debate that all conservatives have wanted all along—about the size, scope, and proper mission of our federal government.
That's a striking achievement, especially if you remember how this year started. We began the debt-ceiling debate on Democratic terms, with President Obama and Treasury Secretary Timothy Geithner insisting on a "clean bill" that had no conditions attached. Then came threats about grandma not getting her Social Security check if Republicans didn't do as the president demanded, and folks likening Republicans and tea partiers to terrorists.
It ain't perfect--far from it--and we still need (Lord knows we do) a compelling presidential candidate.
But I'm with Bill. The bill President Obama is about to clench his teeth and sign represents a "striking achievement" indeed.
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Jun '11
Re: Brother McGurn Says We Won
The bill that Obama will sign will lead to a downgrade of US debt. That's why the markets have been selling off since last week when it was certain CC&B (the last best hope) would be DOA. The pace of sell-off quickened yesterday when it was certain that there weren't enough fiscal conservatives in the House to head the "best-we-can-do" bill off at the pass. The ratings agencies know all they need to know now to rate future US debt offerings. If they don't drop us from AAA it will only be (corrupt) political pressure that does it. That downgrade will be very costly so, I don't want any ownership of this "victory."
Let Mr. Obama own it all.
Oct '10
Re: Brother McGurn Says We Won
Peter, how about a link? Here's one that works for me.
I do hope this isn't like cheering for your team having made a great play while the stadium burns down.
Jul '10
Re: Brother McGurn Says We Won
Does brother McGurn know that no one who voted against it will be allowed to serve on the "super-commission"? That's right, no Rand Paul, no Jim Demint or practically any other hardline fiscal conservative will be allowed to serve, so expect tax increases after all.
Aug '11
Re: Brother McGurn Says We Won
We've been upgraded from mere "haters" to "terrorists," but I don't feel like we won. The spending party continues.
Nov '10
Re: Brother McGurn Says We Won
Here in Washington, the commentator on WTOP didn't find it the least bit hard to view this as anything other than a repudiation of the Tea Party. That's what the bulk of Washingtonians heard on their way to work.
Dec '10
Re: Brother McGurn Says We Won
From the time Democrats won control of congress from Republicans last decade through this debt ceiling debacle, they have done what all leftist parties, labor parties, socialist parties, collectivists, tax and spend politicians do—to keep it simple, call them all the “Suckers” with a capital S, as they suck out the wealth of the nation—they play voters the way the stock market plays investors: with fear and greed.
The politician Suckers create fear in those with money in order to take it away from them and then give it to the greedy who pal around with them.
This scam has just played out, again.
There is no question the venerable Suckers in the House, Senate, and Oval Office are rewarded each time they play this game, so play on they will. The question is: What is the word for the old guard Republicans who play along with them?
Tea party movement: Faster please.
Re: Brother McGurn Says We Won
I don't see how it represents a striking achievement...especially if it results in the Tea Party voting for third party candidates in Congressional elections. Folks are mad at what they see as a cave in. Boehner's House passed Cut, Cap, and Balance, and before even seeing the Democrat counter-proposal, Boehner began negotiating with himself.
All this bill is is a short-term political win while the country tumbles toward major economic catastrophe.
I do hope that Republicans can capture the Senate and WH in 2012, but I have very little faith that they'll do anything meaningful to stave off collapse once they're in control. We've seen what they do when they're in power, and it involves lots of spending.
Mar '11
Re: Brother McGurn Says We Won
If you call an increase in the debt of $6trillion rather than $9trillion a win, yes, we won.
The hobbits are still restless.
Jun '11
Re: Brother McGurn Says We Won
Cut, Cap & Balance passed the House and was tabled, with 51 votes, by Harry Reid in the Senate on Friday July 22nd. The S&P500 hasn't had an up day since. That broad index has lost 6.3% (and still falling as of this moment) since CC&B died. The NASDAQ has shed 5.5%+ of value in the same period.
I know the conventional wisdom was that the market was slipping last week because of uncertainty, but I toil in these fields daily and I will respectfully submit that the larger problem was a bill that doesn't address the problem, will likely lead to a downgrade, and possibly worse. Now, as traders see how lacking this bill is, the selling (and shorting) has picked up in pace.
Perhaps it's short-lived and just an overdue correction.
Aug '10
Re: Brother McGurn Says We Won
If the committee gets loaded with squishy Republicans who agree to a tax increase this bill will be a disaster for the GOP in 2012.
May '10
Re: Brother McGurn Says We Won
Peter Robinson: Once again, Brother McGurn has proven too modest to post any news here on Ricochet of his latest column in the Wall Street Journal. Excerpts:
Democrats can pivot from this point to argue that the problem is not how much spending but what we are spending on.
Republicans haven't forced Democrats to stop spending or adopt sane budget practices. Quite the contrary, Republicans have approved trillions in new loans and, if John Bolton is to be believed, huge cuts to the defense budget.
By the way, I had to remind myself that $500 billion is a "huge" number.
Dec '10
Re: Brother McGurn Says We Won
Why didn’t the House just raise the debt ceiling in a simple debt ceiling only bill?
Does this bill now passed exempt Congress from ever passing a budget again?
Two years without a budget: dereliction of duty. Now three years?
The bill not only raises the debt ceiling, it forms a Praesidium with members skewed towards taxing without restraint to spending.
Year after year, administration after administration, congress after congress, it is the inalterable rule in Washington that any bill without the express purpose of cuts in spending, limited to only cuts in spending, will always result in more spending.
Dec '10
Re: Brother McGurn Says We Won
Best we could do? I think so. Victory? No.
We will add (probably) another $10 T to the debt with this "victory," plus this deal requires the largest tax hike in American history, just to break even. This deal requires the expiration of the "Bush Tax Cuts", or none of the numbers being bandied are remotely accurate. That means that even the silly numbers we are hearing require dramatic and unprecedented tax increases.
Yay us!
Apr '11
Re: Brother McGurn Says We Won
A McConnell spokesperson said today that everyone is eligible regardless of their vote. DeMint may not be included, but we have plenty of other heavy hitters that can get the job done.
Reid came out today yelling for more "revenue" and a "balanced" approach in the next phase of negotiations. The GOP certainly boxed themselves in. I haven't heard anything yet on how they plan to sidestep this trap. If they sign on to a tax increase, and yes, allowing the Bush tax cuts to expire is a tax increase, I don't see how they recover from that.
Jan '11
Re: Brother McGurn Says We Won
Peter Robinson:
I thought so too, until I glanced at the news this evening and saw this headline at the top of the page. They didn't even take a deep breath before charging ahead with plans on how to hike taxes via the Committee of 12.
Re: Brother McGurn Says We Won
I agree with you, Peter. It is a victory of sorts. But this was a skirmish. Before we can turn things around, we need to win the Senate and the Presidency. What was really important about this skirmish was the effect that it had in turning the public against Barack Obama. Every time he held a press conference he did himself harm. My one regret is that there will not be a similar debt-limit vote and debate until after the 2012 election.
In the meantime, we are going to see a double-dip and, I would guess, a down-grade of the US debt. Both are regrettable and will do many Americans harm. The silver lining is that they will have the effect of exposing the bankruptcy of the policies of this administration.
May '10
Re: Brother McGurn Says We Won
"A few more such victories would have shortly put an end to British dominion in America."
General Henry Clinton after the British "victory" at Bunker Hill
Dec '10
Re: Brother McGurn Says We Won
This is siege warfare. The GOP Establishment and the TEA Party Movement both need to understand that. This battle moved the forces to the city walls, but it will take a long time and a lot more fighting to breach those walls.
That said, I agree with the closing of Bill's column:
In this, the liberals are closer to the truth. Yes, Mr. Obama got a deal that takes him past next year's election, and can play himself up as the greater compromiser. The price, however, was high. Effectively he has surrendered to the Republican framework for debate on taxes and spending.
That puts 2012 on terms much friendlier to the argument that Republicans need to make to the American people. It runs like this: If you are want a government in Washington that spends less, that taxes less, and encourages our private sector to grow, you need a Republican in the White House.
Even Murphy might find the glass half-full.
Feb '11
Re: Brother McGurn Says We Won
I count this a win.
Absent the Tea Party menace the DC monster would have imposed trillions in new taxes and then praised itself for its supposed adulthood.
Instead this deal left the democrats scheming for ways to raise taxes and bitterly cursing that they so far have not.
In public too. So people including "independent" voters can hear them do it. Worse for the left, this time they don't have a block of Republicans they can loudly praise for agreeing to raise taxes.
Nope. They're on their own. Out on that limb, sawing away.
Of course they don't call the GOP the stupid party for nothing - and perhaps I've just missed hearing about the Republicans joining the left in arguing for tax hikes. Maybe later the GOP will cave completely and utterly as the GOP often does.
But so far it seems like a better deal then I expected.
Jan '11
Re: Brother McGurn Says We Won
Brother ...ok says we lost.
I do not know what may have happened if the debt ceiling was not increased. I do know what will happen if we do not reduce spending.
If this was the best deal available then there should have been no deal.
Cutting spending, not merely slowing the growth, will be painful. It must be done. Last November was a mandate to cut government. If not now, when?