Watching cable news during this fiscal cliff flop can be frustrating.
I actually heard a talking head say on MSNBC this morning that he, a man who held political office as a Democrat but who now works for a Wall Street bank, that there is no way he should get Medicare when he is 65. He should have to wait until he is 67, he proudly said.
That is just part of the talk I have heard everywhere on TV about how Democrats need to cave on “entitlements,” finding some way to get Republicans to make a “deal” before The End of the World comes.
But, again, let’s quickly review what is going on here. From January 2001 until January of 2009, Republicans held the White House, and for a substantial part of that time had effective control of Congress. Thanks in part to Democrats responsibly raising taxes in 1993, Republicans inherited budget surpluses in 2001.
Then, Republicans cut taxes, initiated two wars, cut taxes some more, created a new entitlement program that was a sweet deal for their pharmaceutical industry campaign contributors, and then looked the other way while the economy was looted by reckless, greedy bankers who brought on the worst economic crisis since the Great Depression. While all that was going on, the federal debt soared, and, thanks mostly to those past Republican policies, keeps soaring.
As if that wasn’t enough, when the public, sensibly, put Democrats in control of Congress and the White House, Republicans suddenly found Jesus on the issue of government spending, just when we needed the government to keep spending to save the economy and to keep Americans working.
After finding Austerity Jesus, Republicans decided that the best way to save the country from “big-spending” Democrats (!) was to sabotage the economic recovery and hold the country hostage over the debt ceiling (!) until Democrats gave them what they wanted.
Then, because Democrats wouldn’t give them everything they wanted, they decided to create a situation that eventually led to this fiscal cliff fiasco, which amounts to a job-killing sword of Damocles hanging over the economic recovery.
But before we had to face the fiscal cliff, the parties had to face an election. Republicans didn’t do very well. In fact, Democrats gained seats in Congress and the hated Barack Obama was reelected, substantially, it turns out, because he ran on restoring those 1993 tax rates on the wealthy, those to whom Republicans had handed a rather large gift when they were in charge, a gift about to run out at the end of this year.
So, here we are. The fiscal cliff, which we have because Republican hostage takers needed assurance that Democrats would cut our social insurance commitments and not take away that tax gift from wealthy folks, is getting closer. And after that, yet another debt ceiling fight awaits, as Republicans have threatened to hold the country hostage again.
And some chattering schlemiel on television, a former Democratic congressman who now works for a big bank, says Democrats should be willing to raise the eligibility age for old folks, essentially to pay for the profligacy that Republicans inflicted on the country, old folks and all, during their years of governance. The right-wing drowned us in debt via tax cuts and war spending and a new entitlement program, and they want Democrats to tell old people they will have to pay for it.
It is psychotropically frustrating is what it is.
Chuck Todd, host of MSNBC’s The Daily Rundown, said this morning that “the pubic is craving a compromise.” He said that because of a new NBC/Wall Street Journal poll that found the following:
That poll supposedly indicates that people are beginning to blame “both sides” for the current impasse, which, if true, is a reflection of news coverage and not of reality.
But the poll did confirm a reality that journalists, and pundits on television, ought to pay attention to:
As you can see, Democrats enjoy relatively strong public support. And look at the bottom of that list. Republicans are 15 points—15 points!—underwater. And looking deeper at those numbers, only 9% of respondents said they had a “Very Positive” view of Republicans, compared to 21% who viewed Democrats very positively.
The bottom line is that the public trusts Democrats to do the right thing during these fiscal cliff deliberations and any deal making that might come from them. And the right thing is not giving political cover to Republicans in Congress—who after recklessly running and ruining the economy, now feverishly want to cut social insurance benefits to rectify their malfeasance.