Sunday, July 31, 2011
The wrangling over the debt ceiling is still dragging on in Washington, but the Democrats and Republicans are much closer than they care to admit in this pitched battle - the GOP wants to end all social spending, and the Democrats just want to end lots of it.
The lion's share of the deficit that the Republicans are screaming about comes mainly from the loss of revenue caused by the Bush tax cuts - not profligate federal spending, and not even from the bailout. Obama, of course, can't point this out with any zeal, because he signed an extension of the Bush tax cuts just in time for Christmas last year.
And the mainstream media are like magpies, repeating the same stale lines coming from congressional leadership as though it represented the full spectrum of the debate. Well it don't.
The Progressive Caucus in the House presented a sensible budget that wouldn't strangle the elderly, school kids, and working people, and which chip away at the deficit over the next ten years. This received essentially no coverage in the mainstream media (including the NY Times), and did not even come close to a floor vote in the House. Are you surprised?
Click here to read "The People's Budget" in pdf format (and click here to read a summary from the CPC web site). In spite of the name, it's not a crazy commie tract - it just put's the concerns of working people ahead of millionaires, corporations, and wars. That doesn't sound so bad, does it?