Well, so that’s it, then. You captured one of us, threatened all of us…
All right, I couldn’t resist channelling Captain Pike for a moment, even if it does make for a non-sequitur type of opening. Still, there’s something in the tone of that speech that reflects how I feel about this government shutdown / debt ceiling revolt by the stark minority of hayseeds known as the tea party. Sure, I’m relieved that they didn’t upend the global capitalist system they profess to adore so much. And yes, I am heartened by news that hungry poor folks will be getting food assistance, and sick children will get treatment, and veterans will get aid, etc. That’s all important. But relief shouldn’t blind us to the rank selfishness that caused those people to lose their badly needed benefits.
The fact is, the minority of House Republicans that make up the “tea party” caucus, led by their Senate mentor Ted Cruz, caused about $20-25 billion in losses to the U.S. economy. Much of this is irretrievable, as it represents lost contract fees, lost purchases by government employees (i.e. lunches, cups of coffee, etc.), and so on. And it was done pointlessly: nothing was accomplished, for good or ill. We could have had the final deal on the first day, but it was never brought to a vote.
It mystifies me, though, how little these people understand the core principles of capitalism. For god’s sake, folks … the whole house is built on confidence and credit. Private enterprises need credit to do business. They rely on short term loans to make their payroll. If there is no confidence in their ability to pay back the money they borrow, credit is withheld and they collapse. Same thing with government, only our government presides over the primary reserve currency of the entire global economy. That reality, from which we benefit greatly, is based on confidence. The shutdown and the debt-ceiling hostage crisis have seriously undermined that confidence.
This will likely happen again, I’m afraid. Until, that is, we manage not to elect to government people fully intent on destroying it from within.
luv u,
jp
