Part 1: The Set-Up
– One consequence of inhaling the fetid gases arising out of the DC centrist swamp is the uncontrollable urge to express support for the “Grand Bargain”, a wide-ranging budget deal that would fiddle with tax rates and cut social spending programs in order to lower the long-term deficit. Here’s the mad cow pen at Kaplan Test Prep lowing at it’s necessity. A failure to come to a “Grand Bargain” was in part what led to the stalled negotiations to raise the debt ceiling in 2011.
– A result of the debt ceiling fever-dream was that spending cuts to programs awkward to cut (ie, the military and social spending whose rescission is most likely to cause blood to flow in the street) are to be enacted at the start of 2013. Ben Bernanke (hereafter: The Lorax) warned last February that the combination of those cuts and the expiration of the Frank Booth* Tax Cuts would create a “fiscal cliff”. His point in invoking the metaphor was to emphasize that we shouldn’t be enacting these austerity policies, because they would kill the economy. He said this forcefully. When the Treasury Secretary says something like “I think you also have to protect the recovery in the near term,” it’s measured policy speak for “you fucking twats, don’t cause another recession by cutting spending.”
* ‘cuz he fucked everything that moves, get it?
Part 2: The Sting
Everybody say it with me: THAT DON’T MAKE NO FUCKING SENSE.
The economy will be destroyed if we don’t avoid spending cuts and tax increases, but we need to enact spending cuts and tax increases right away in order to save the economy.
You can’t possibly believe that statement, and worse, you can’t manipulate it somehow to get it to make sense without running into another moat of centrist bullshit. It doesn’t make sense to consider both dismantling the “fiscal cliff” and reaching a “Grand Bargain” together, but ok, first we avoid catastrophe and then we phase in long-term deficit reduction over time, right? WRONG says Erskine Bowles in his best McLaughlin voice, doing so would “show markets we can’t put our house in order”, both have to be done nownownow. Why the prescription for saving the economy is the same as what we have to stop in order to avoid tanking it, or why interest rates in 2020 will give a shit whether a deal was hammered out in January or October of 2012, are left as exercises to the reader.
Well ok but at least then there will be deficit reduction, right, that’s the whole point of this exercise? WRONG says Peter Orszag, in his virile high-pitched voice, “the most promising approach may be to compromise on Social Security — even though it is not a significant driver of our long-term deficits.” The “fiscal cliff” needs to be used as an opportunity for a “Grand Bargain” of deficit reduction, even if there’s no deficit reduction.
Part 3: The Highest Form of Patriotism is to Punch Veterans in the Mouth
“Austerity will harm the economy, so we need to avoid it, but in the process of avoiding it we need to do it in order save the economy. And even if it won’t save the economy, we have to do it.” How much clearer could it possibly be that the centrist braying for dealing with the “fiscal cliff” and in the process instituting a “Grand Bargain” does not come from sober or reasoned economic analysis, and that looking for a through-line of logic from centrists in their incessant neighing for austerity is like trying to follow a single trail of slime in a slug orgy.
The purpose is not deficit reduction, or economic stability. It’s what it always is: the transfer of wealth and security from the public to the private, from the masses to the few, from the base to the top.
How these broken-down jackasses are able to whine so incessantly for their plutocratic nightmare while holding up as paragons of virtue and civic responsibility the very people that will be destroyed by their policies is beyond me. Two things are certain, this Veterans Day: David Gregory will blither staggeringly through his list of talking points to obscure the above analysis as much as possible, and he will praise veterans as the highest form of humanity yet attained, and I will vomit. Three things.