Republicans poised to cause economic collapse over fiscal cliff, debt ceiling deal
On Thursday, Senate majority leader Harry Reid said the Republicans were turning the House of Representatives into a “dictatorship,” for refusing to let congress vote on a bill that could solve the nation’s tax and spending issues.
A handful of Tea Party Republicans are ready to needlessly push the United States off the ‘fiscal cliff,’ and conceivably use the debt ceiling as a bargaining tool in an effort to preserve tax breaks for the wealthiest Americans.
In addition to their high-end tax cut demands, Republicans are trying to strip-away America’s social safety net and impose ideological austerity measures on an already struggling economy.
At stake is such profound economic turmoil, global financial markets could tumble, with the United States leading the way toward self-inflicted economic collapse.
“The big lie of the fiscal cliff is that… Republicans want to raise taxes on more people than the White House does,” according to Ezra Klein in the Washington Post.
In addition to raising taxes on the poor and middle-class through the elimination of the earned income and child tax credits, Republicans are targeting Social Security and Medicare, food, education and other federal assistance programs in their budget cut plans.
The deal Republicans seek has the potential to permanently transform America into two-class society, with extreme wealth on one side and abject poverty on the other.
With no agreement between the White House and Republicans before the December 31st deadline, Americans face the largest tax increase in history, if all the Bush tax cuts are allowed to expire.
Making matters worse is the debt ceiling limit, which Treasury Secretary Tim Geithner announced on Thursday, would be reached by New Year’s Eve. If Republicans fail to raise it so America can pay its bills, the GOP could plunge the nation into a financial crisis.
Threatening default on America’s debt was not used as a political weapon to advance a social agenda until Tea Party extremists took control of the Republican congress in 2010.
Despite widespread 2012 Election Day losses, Republicans seem more determined than ever to refuse to compromise with President Obama, no matter how high the stakes.
As politicians scramble to cast blame for the economic catastrophe they are about to impose, the real blame should be placed on American voters.
By the time they got into voting booths in 2012, too many had forgotten who caused the debt ceiling crisis of 2011. They forgot who blocked every job creation measure suggested by President Obama and the Democrats for the past 4 years, and they ignored the facts about who has been responsible for playing Russian Roulette with the lives of American workers.
In their state of amnesia, American voters could not remember which party made controlling reproductive rights, protecting the rich, and scourging President Obama their priorities above all else.
Perhaps the next time Americans enter a voting booth, they will recall the aftermath of the last election and vow not to repeat their mistakes.
It is now far too obvious that Tea Party Republicans are incapable of handling their power responsibly, and are more obsessed with destroying the government than in demonstrating any ability to govern the citizens they represent.
If you are an American who voted to send a Tea Party Republican to congress, the blame for economic Armageddon is yours. The world is watching these people make fools of all of us.