Political Extremism

At this late hour there appears to be a deal on raising the debt ceiling. Am I the only one to conclude that concern over the economic health of the United States was not the driving force behind the political brinkmanship that got us dangerously close to financial catastrophe? Much like the newly elected union-busting governor of Wisconsin, this was more about right wing extremists irresponsibly exercising newfound political clout than about cutting spending. It certainly wasn't about creating jobs or the future of our children. It was about spreading a radical agenda with no regard for the economic facts...

• Raising the debt ceiling, which had been done dozens of times under many Presidents, was not a green light to tax and spend even more. Economists were practically unanimous in saying raising the ceiling was vital to paying debts we had already rung up under both parties.
• While our debt is too high, the U.S. AAA credit rating meant we are a trusted borrower from China or anyone else. Losing that coveted status could mean higher interest rates, costing us more than the $400 billion difference that had divided the two parties.
• When Americans were initially hesitant to raise the debt ceiling, the Tea Party candidates like Michelle Bachmann may have been correct in saying they represented the will of the people. The legs soon gave way on that argument. Real information on the negative implications of failing to raise the debt ceiling left the majority of Americans more amenable to compromise on that issue.
• Connecticut and other states are already seeing painful cuts. U.S. Senator Orrin Hatch of Utah actually had the gall to claim that middle class and poor people aren't doing enough to get us out of this mess. How out of touch can our leaders get? Now the notion of returning to the Clinton era tax rates for people who earn $250,000-plus annually meets a brick wall on the right. That's a slap in everyone's face, especially after the U.S. taxpayers bailed out the Wall Street gamblers who brought on the 2008 crash.
• I'm all for corporations getting a tax rate competitive with other countries, but the history of tax breaks for the wealthy leading to the creation of jobs is dubious at best. You can have all the supply in the world, but you need people with jobs to fuel demand.
• I hope Tea Party types will get about the legitimate business of decrying government waste while reminding us how hard it is getting rid of government agencies when they outlive their usefulness. That's the real world according to their hero Ronald Reagan. Reagan could compromise with Tip O'Neill.  Stop hijacking his legacy by supporting fringe candidates who were prepared to freeze the debt ceiling!