“…There’s the politics and then there’s the arithmetic and the arithmetic says we’re not getting to the right place. … …and the idea that we’re not going to raise revenue… (waving hands in the air)… seems to be (shakes his head)… I don’t even understand this conversation. …” – Andrew Ross Sorkin
I hope the Democratic Party poobahs choked after seeing this segment on “Morning Joe.” They deserve to. This predictable conversation was what I warned was going to happen a long time ago, because when Democrats parrot Republican economic messages it’s going to end one way, very badly, not only for the country, but for Democrats when they decide to pull their heads out of the sand.
“but… but… but…” Joe Scarborough stammered, turning quickly to Mike Barnicle, making the case for the title I chose here. In the end, it’s the Democratic Party’s fault, because in the Obama era no one with the power to convince made the case for tax increases from the start.
So hearing Rep. Chris Van Hollen and other Democrats bemoaning Republicans not compromising on revenue increases is pathetic. Democrats set this dynamic up.
Scarborough laid it out, something that should hit hard on Democrats, saying “Barack Obama does not want to raise taxes now.” Continuing, back when Nancy Pelosi was speaker, she didn’t either, and she wants to be speaker again. The Washington Post has a story on this today:
What makes Pelosi different is not that she lost that cherished gavel ““ but that she didn’t head for the exit when she did. Pelosi is the first former speaker since Sam Rayburn, more than half a century ago, to remain in the House as the head of her party and to fight to get her majority back.
[…] But if Pelosi wears her scars as a badge of honor, her closest allies don’t hide their feelings of grievance on her behalf. In their view, their party ““ and their president ““ should have done a better job defending a speaker who had delivered so much. “It was a wide-open season on her,” Miller said. “A lesser person would not have survived with the ability to rally her caucus and move forward. Given her accomplishments and what she achieved, from the president on down, people could have done something.”
Today’s Democrats screwed up the economic message a long time ago by adopting the Republican model, something that never works and in fact helped get us into this mess.
Meanwhile in Greece, another “bailout” freak out coming down the pipeline.
“Everybody is trying to digest how the European debt situation is going to shake out,” said Jason Pride, director of investment strategy at Glenmede in Philadelphia, which manages about $20 billion. “They’re playing an expensive game of chicken with Greece because the downside of not passing a bailout for that country is effectively a financial system meltdown.” – U.S. Stocks Fall as Concern About Europe Debt Crisis Intensifies
TM NOTE: MSNBC videos continually do not download properly, so the video has been removed.