Saturday, September 24, 2011
The GOP Strategy: Sabotage the economy for political gain
With the narrative of President Obama coming up short in revitalizing our economy firmly ensconced in mainstream media, one far more unscrupulous - and more valid - story is under-reported.
The GOP is deliberately contributing to the economic suffering of millions and millions (globally billions) of people by tanking our economy in hopes of winning back the presidency in 2012.
Yes, the GOP and their Tea Party cohorts are running our economy off a cliff in their power grab.
Where's the beef, you ask?
Republican Sen. Mitch McConnell has publicly stated (several times):
Our top political priority over the next two years should be to deny President Obama a second term in office.
Notice he did not say heal the economic woes of the American people; nor did he say to help create jobs. No, he stated his main goal was to defeat Obama in 2012 and he knows a poor economy is the ticket.
And now this:
The top four Republicans in the House and Senate sent Federal Reserve Chairman Ben Bernanke a letter this week expressing their "serious concerns" about the Fed's plans to administer further monetary stimulus to juice the stalled economy. The Fed should "resist further extraordinary intervention in the U.S. economy," they advised. (The Fed ignored the GOP and approved a plan to buy $400 billion in long-term Treasury bonds by selling shorter-term T-notes.) Liberals have pounced, accusing the GOP of trying to undermine the economy for political gain — the theory being that if the economy improves, so do President Obama's chances in 2012. "I realize the term 'economic sabotage' is a loaded one," says Karoli Kuns at Crooks & Liars. "But what else do you call this?"
This is obviously economic sabotage: Blocking every single one of President Obama's proposals to boost the economy has worked out pretty well for the GOP, says Andrew Sullivan at The Daily Beast. And with this Bernanke letter, "I think it's now fair to say that they are even attempting to intensify the slowdown by intimidating the Fed from doing its job." Trying to "sabotage economic growth for short-term political advantage" is a pretty shocking new low — even for the Party of No.
To the doubting Thomases, prior to 2010 mid-term election of Tea Party wackos our economic recovery was beginning to look rosier - jobs were being created at a faster pace, the GDP was growing, consumer confidence was improving and the stock market was rebounding.
Since the installment of the just say no (even to your own ideas if Obama likes it) Tea Baggers, our recovery has become mired in the political mud.