Outrageous

With the Republicans threatening to induce a major global economic disaster by not raising the debt ceiling unless their extremist and unfair demands are met, Obama is showing signs of weakening in his defense of the social safety programs including Social Security, Medicare, and Medicaid.  Apparently, these programs are now "on the table" in the debt ceiling negotiations.  Also, apparently, the Bush tax cuts for the wealthy are still "off the table".  This is an outrageous affront to the middle class, the elderly and the poor. 

Instead of addressing the jobs issues that are at the heart of the ongoing economic crisis, the politicians are wrangling over a debt ceiling increase that was executed without controversy SEVEN TIMES during the Bush administration.  This is politics pure and simple.  If the President were a Republican, we would not be having this debate. 

Warren Buffett in a CNBC interview stated that the the Republican-controlled Congress is "trying to use the incentive now that we're going to blow your brains out, America, in terms of your debt worthiness over time."  In May, Buffett stated at a Berkshire Hathaway shareholder's meeting that if the Congress failed to raise the debt ceiling, it would constitute "the most asinine act" in the nation's history. 

Katrina vanden Heuvel offered a solution in a recent Nation column: "Invoke Section 4 of the Fourteenth Amendment, which says that 'the validity of the public debt of the United States … shall not be questioned.' This constitutional option is one that the president alone may exercise."

It will be interesting to see how this shakes out...in the meantime, the Republicans should be held accountable for the ensuing crisis if the US defaults on its debts.  And Obama should be held accountable if he caves in to the extremists of the right - especially if the Bush tax cuts for the wealthy are not also part of the solution.