Daily Archives: October 7, 2013

China warns U.S. about debt default

USA Today has the brief story China warns U.S. about debt default.

“‘We hope the United States fully understands the lessons of history,’ Zhu said, referring to a deadlock in 2011 that led to a downgrade of the U.S. credit rating to “AA+” from “AAA” by agency Standard & Poors.

“The last big confrontation over the debt ceiling, in August 2011, ended with an eleventh-hour agreement under pressure from shaken markets and warnings of an economic catastrophe if a default were allowed to happen.”

First it was Russia telling us how to avoid war, and now the Chinese government is explaining to us how to run a capitalist economy.

How dare they?  Isn’t the USA the best capitalist country in the world?  Maybe not.

A Federal Budget Crisis Months in the Planning

That great bastion of conspiracy theories, The New York Times, has the article A Federal Budget Crisis Months in the Planning.

To many Americans, the shutdown came out of nowhere. But interviews with a wide array of conservatives show that the confrontation that precipitated the crisis was the outgrowth of a long-running effort to undo the law, the Affordable Care Act, since its passage in 2010 — waged by a galaxy of conservative groups with more money, organized tactics and interconnections than is commonly known.
“They’ve been hugely influential,” said David Wasserman, who tracks House races for the nonpartisan Cook Political Report. “When else in our history has a freshman member of Congress from North Carolina been able to round up a gang of 80 that’s essentially ground the government to a halt?”

This shouldn’t be a surprise to anyone who is paying attention.  Perhaps the people who think both sides are equally to blame may be surprised by this.

Tea Party Radicalism Is Misunderstood: Meet the “Newest Right”

Alternet is carrying the story Tea Party Radicalism Is Misunderstood: Meet the “Newest Right” from Salon.

For all its Jacksonian populist rhetoric, the Newest Right is no more a rebellion of the white working class than was the original faux-populist Jacksonian movement, led by rich slaveowners like Andrew Jackson and agents of New York banks like Martin Van Buren.

This article explains why the battle cry, “The south will rise again” may be turned into fact.

Harry Reid: ‘Speaker Boehner Has A Credibility Problem’

Talking Points Memo has the article Harry Reid: ‘Speaker Boehner Has A Credibility Problem’.

If you have ever wanted a diplomatic way of calling someone a liar, then this is one possibility.

Further into the article it discusses Chuck Schumer’s challenge with respect to presenting a clean continuing resolution to the floor of the House of Representatives for an up or down vote.

Despite reports to the contrary, Boehner was adamant on Sunday that such a bill could not pass the lower chamber. In response, Democrats like Sen. Chuck Schumer (D-NY) and White House spokesman Jay Carney challenged Boehner to prove his claim and bring the legislation to a vote.

Perhaps Speaker Boner just wants to be pushed into doing what he claims he does not want to do so that he won’t be blamed for doing it by the Tea Party.  Is tea a euphemism for something else that we usually think of for being smoked?