Your Daily Dose of BuzzFlash at Truthout, via my pal Mark Karlin:
Yes indeed, with "The Tea Party and the Economy: It's Like Putting an Arsonist in Charge of the Fire Department." Paul Krugman also opined on the ruinous impact of the rabid Right Wing in a column, "The Damage Done":
Elections have consequences, and one consequence of Republican victories in the 2010 midterms has been a still-weak economy when we could and should have been well on the way to full recovery.
But why have Republican demands so consistently had a depressing effect on the economy?
Part of the answer is that the party remains determined to wage top-down class warfare in an economy where such warfare is particularly destructive.
Think of Obama's sudden emergence of spine as having kept the dam of the American economy from bursting, wreaking havoc throughout the nation -- with a devastating global impact had the nation defaulted. Yet, due to the Tea Party (financed largely by the likes of the Koch Brothers) and Republican Ayn Randians such as Paul Ryan and the opportunistic Ted Cruz (along with the less fanatic, but, nonetheless, austerity-driven Mitch McConnell) the dam is still leaking like a sieve. It hasn't burst, but the jury is still out on whether or not the dam will break open from all the holes blasted open by the alliance of libertarian oligarchs with neo-Confederate populists.
Let's look at just one example: sequestration. The Republicans in Congress insisted on potential sequestration (automatic cuts in the domestic and military budgets) as a condition of raising the debt in 2011. [...]
This summer, the AFL-CIO blog listed "25 Ways the Sequester Causes Real Harm to Real People." These include: "kids kicked out of Head Start"; "increased homelessness"; "elderly adults not being able to eat"; "loss of unemployment benefits"; and much more damage to a large swath of US citizens, not to mention the economy. [...]
Given that the Republicans in Congress continue to oppose new sources of revenue (higher taxes on the rich and the closing of corporate and financial institution loopholes, along with perhaps some financial transaction taxes), the likelihood of the austerity juggernaut continuing is high.
Basically, the federal budget and debt have been negotiated since Reagan largely on Republican terms...
Please read the entire post here.