Joe Weisenthal
Source: Business Insider
May 12, 2012, 9:13 AM
Romney (Photo credit: Talk Radio News Service)
Back in April we made the argument that a Mitt Romney win would be better for the economy, based on fairly simple logic: A Mitt Romney victory would see higher government deficits, which is just what this struggling economy needs right now to regain full health.
If Obama wins, there’s a good chance that we’ll fly off the fiscal cliff, as the political gridlock will see spending cuts kick in, and perhaps even higher taxes.
If Romney wins, not only will taxes stay low, Republicans will drop their opposition to government spending and deficits. That’s because parties in power always support higher deficits and spending. It’s just what they do.
We’d love to hear someone say with a straight face that Republicans, if given full power, would seriously stick to their principles of limiting government. Opposing deficits is strictly the purview of the opposition party.
So the Keynesian choice is Romney.
And as Matt Yglesias makes clear in his latest column for Slate, this choice is actually even more urgent.
That’s because House Republicans voted this week to renege on the debt ceiling deal made last summer. Remember as part of the deal that was made, starting in 2012 there are going to be cuts to domestic spending and military spending. But Republicans have voted to remove the military cuts, and put the entire burden on domestic spending.
Those changes won’t actually happen, but it’s a show of extraordinarily bad faith that after that long fight that brought the country close to the brink of disaster last summer that Republicans are already trying to unwind the deal.
What this means is that good faith fights over the next debt ceiling question (which will come up late this year or early next year) will be 100% impossible.
As Yglesias says in the subtitle of his column: House Republicans just reneged on the debt-ceiling deal, making a default in 2013 almost inevitable.
Says Yglesias:
If Mitt Romney wins that may not be a problem, as he and congressional Republicans could just quickly lift the ceiling. But if Obama’s still in office, we’re looking at a potential disaster. Having won concessions by using the debt ceiling as leverage in the past, the GOP isn’t going to quietly go back to the old complain-and-agree approach. But there’s no way Democrats can bargain with a party that’s so eager to wriggle out of the terms of deals.
So again, it’s clear that if you want higher spending and a prevention of cataclysmic self-inflicted wounds out of Washington, Romney is the choice.
Related articles
- America’s Looming Default Crisis (slate.com)
- Mitt Romney on The Issues – Understanding What He Stands for (socyberty.com)
- Would President Romney Increase The Debt Ceiling? (thinkprogress.org)
- Abbreviated Pundit Roundup: Mitt Romney, bully. (dailykos.com)
- Why Re-Electing Obama Could Be An Economic Disaster (businessinsider.com)
Carolee , Has it right on .There must be a complete house cleaning in D.C.
Maybe there is enough support for Ron Paul third party . We could call it the 99 %.
is there no end to the punishment that the people of the USA want to inflict upon themselves,there has only been 2 presidents that were not already bought and paid for,kennedy and lincoln and look what happened to them,so what this is telling you is that you only have the illusion of choice,so with the exception of ron paul,the rest has already been financed by the rothschilds and the rockerfellers,this is telling you that the next president is already fixed unless you can do something about it,even in the UK the prime minister is selected not elected.when tony blair came to power the party leader at that time was john smith who had idea’s of his own that is why he was eliminated by an accident in his bath.
Interesting how much fear porn is available on this site these days.
This article was the stupidest, lamest attempt at fear manipulation I have ever read.
I agree with Bill Ryan speaking right now with James Gilliland:
http://www.bbsradio.com/asyouwish/
Get Soros in a FEMA camp and both parties will straighten out -
from Bloomberg – World’s Richest lose $17 bil
http://www.bloomberg.com/news/2012-05-11/world-s-richest-lose-17-billion-as-slim-s-fortune-drops.html
Ron Paul 2012. nuf said.
I totally agree Alex. I also believe some effort on our parts will be required in some way. I think some personal responsibility is called for and we each need to get our house in order, so to speak. Time to start eating a diet high in nutrition and low in calories. A vegetarian diet is alkaline and all of us certainly need to get the acidity out of our bodies. Also, this is a good way to destroy the so called health system, wreak the pharmaceutical cartels and take money out of their pockets. The bankers are doing a pretty good job of taking themselves down.
Just as a side note, I do believe that Obama might actually be a “grey hat”, meaning he works for both sides (the cabal and us). I believe he MIGHT be doing this to try and use the enemies’ weapons against them? He may work for the bad guys, but MAYBE there’s a good reason for it??? Only time will tell…
I’m with Carolee, too…these two guys (Obama and Romney) work for the same evil people (the cabal), and they have the same agenda, just done two different ways. The way I see it, (and I believe that Jean might also agree with me on this) is we probably will have other things to worry about when this year’s election time comes. I don’t believe that this year’s election will be like anything that anyone is used to or has come to expect from this theater (meaning the election show we see every year). I believe that much, much, bigger good things are going to happen, and pretty soon, too. I mean, just listen to people like Drake, or even Bill Brockbrader. As I’ve said before, people like that PUT THEIR LIVES ON THE LINE to tell us this information, and I don’t think that they would risk death to tell us this stuff if it wasn’t important. Also keep in mind that people generally don’t keep the same lie (or lies) straight in their heads over a long period of time. If either Bill or Drake were lying about this stuff, you would begin to notice irregularities in the things that they say to us. However, from what I’ve noticed, both of their stories are pretty consistent with what they have told us from the beginning. It doesn’t matter who we vote for…just like Carolee, I also have no faith in either party. They work for the same people, as I said. I just have a “feeling” (my psychic sense is tingling) that we will have bigger things to think (and not worry) about when it comes around to election time. Just as a reminder, the oldest known Mayan calendar was just found, and it spoke of NOT doom and gloom, but of a changing of the cycles, just like we (the people that come here) already knew, I assume. The cabal is letting this information (that we awake people already knew) out (because they are so very weak) to the “sheeple” because they can’t stop this information from getting out anymore. Things are a’changin’, people, and we need to be prepared and excited for the changes. We came back to Earth at THIS time to help with these changes in some way, so it stands to reason that the elections might me much, much different than any of us have seen before.
Hello folks, I’m with Carolee, our political system has turned into a two headed one party system serving their masters the banksters/Federal Reserve and Wall Street. I think the best thing we can do is end the Federal Reserve which is neither federal nor a reserve (mostly a consortium of foreign banksters) and take control of our currency. Their 100 year charter is up in 2013 and we can’t let our corrupt paid off politicans extend the charter. End the Fed!
The charter has already been extended.
IT IS TIME TO AVOID FEER DO WHAT YOUR HEART IS TELLING LISTEN TO IS BEAT IT IS THE EARTH BEAT ALSO
REMEMBER THEY ARE CONTROLING US BY FEER
General post,
Honestly, I don’t think that additional applications of Keynesian Economic policy will help at all. What we need to do is convince the Fed Chairman that he should raise interest rates and stop giving all that free money away to idiot speculators at the major international banks to squander gambling on high-risk ventures.
Real Capitalism needs “capital” NOT “liquidity.” Raising interest rates would encourage the generation of actual capital in the form of savings. That capital could then be invested to expand America’s anemic manufacturing sector. Right now, industrial capacity for green technology, food production, semiconductor technology, the energy sector (particularly transmission and power generation) are starving to death because everybody is running up debt buying derivatives and IPOs instead of automotive innovation, new machine tools, fleet operations, railroads, construction and the like.
Do you honestly think it makes any difference WHO wins the presidency? Read my lips….the puppeteers who run both parties win no matter who runs. It’s all a big circus to divert our attention. They always win at our expense. We must clean both houses and
re-institute a better fairer government for all of us. I have no faith in either party.
Me neither Carolee! I concur. They all need to be cleared out