Backing Away From The Fiscal Cliff

Aug 1 2012 @ 11:49am

There's a good chance another self-inflicted economic wound has been averted (for the moment, that is). The six-month stopgap is relatively unexpected for a reason, notes Jennifer Steinhauer:

The emerging deal is a sharp contrast to previous occasions when House Republicans used the approach of a spending deadline to insist on deep spending cuts in exchange for their votes, once avoiding a shutdown by a matter of hours. But with the Oct. 1 deadline for enacting spending bills for 2012 coming so close to the election, Republicans leaders were eager to avoid a government crisis that they could be blamed for by voters at the polls.

The bill will be good for the GOP, argues Sahil Kapur:

The deal, if successful, means Republican leaders have dodged a bullet — averting a shutdown fight just weeks before the election, despite the fact that House conservatives have signaled a desire to go down that road. A quiet appropriations process would be a relief for top Republicans who fear another standoff would damage their hopes on Election Day.

In other words, the only reason the GOP is not interested in creating another crisis that damages the entire economy is that it might hurt their electoral prospects. They couldn't care less about hurting the country as a whole – and merrily stopped the recovery in its tracks the minute they got leverage, and thought it could hurt Obama. But their own party? They are remarkably disciplined, aren't they?

I know I'm a broken record, but this degenerate bunch of fanatics nauseates.