Thursday, June 30, 2011
The President Blows it on the Debt Limit
The President gave a press conference yesterday where he was getting close to being on track but in the end he failed again. As I see there are 2 choices in dealing with these Republicans (keep in mind that these guys voted to raise the debt limit many times but now they are not going raise it), first is he could just agree and let the country go into default and take the country back to 1929 when we had much less of a social safety net than we have today. Just maybe when there are people on the streets because they don't have anything we can finally have an adult discussion about how the economy should work. His other choice is to walk into congress with $300 billion in budget cuts. Where is going to get that? Shut down the wars and bring the troops home. Cut the military force by 50%. Redeploy the navy to US coastal ports. Cut the defense budget by about 50%. Cut funding for all new weapons systems. Force the Republicans to vote on that. The country will not be left defenseless. We can cut our military 50% and still have more military than most countries, especially the ones that we are likely to go to war with.