It's called laughing all the way to the bank - with the keys in your pocket! And the Republicans, who are left looking like a bunch of political down-and-outs, should not expect much more than the ash off the President's cigar to be tipped into their outstretched caps. I am not expert enough on the mechanics of American politics to be able to comment with authority but whatever so-called 'strategy' the Republicans were attempting it has left them looking inept and foolish. If you know you are on a loser, then don't fight the battle! The American people 'spoke' in November and Obama and his party were returned strengthened and obviously determined to ram through their programme which can be fairly summed as tax, borrow and spend, tax, borrow and spend again, then, guess what, tax, borrow and spend even more. Surely the Republicans could have agreed amongst themselves not to take part in futile, so-called negotiations but simply to keep on restating their opposition and, most important of all, to keep on warning the American people of the eventual fiscal disaster that will occur as sure as night follows day. Then they could have abstained en masse to show their united opposition. Surely that would have left them looking more respectable than their bedraggled appearance today. The one united act they can take now will be to refuse to allow the debt ceiling to be raised. That, above and beyond all other things, will leave the Dems owning the ticking time bomb.
ADDITIONAL: And here is today's quote from Cafe Hayek which points the direction that Obama will take America except, of course, because they always do things 'bigger and better' over there, the result may be even more dramatic:
… is from page 41 of my former GMU colleague Vernon Smith‘s
rich and wonderful 2004 talk “Markets, Capital Markets, and Globalization,” which is included in the 2005 World Bank publication Lessons of Experience:
Not only capital but also people move to where there is opportunity; and this is an essential part of creating new wealth and prosperity. This was dramatically illustrated for me in 1978, during a taxicab trip from the Wellington, New Zealand, airport to my hotel. The driver was friendly, and I asked, “Tell me about your country.” He replied, “It’s really wonderful. I don’t like paying half my small salary in taxes, but we receive so much that is free: health benefits, prescriptions, free education through college and advanced graduate study. I am just a cab driver, but my son is going to be a medical doctor. He has finished his medical degree and internship, and will begin practicing next year.” In recognition of his obvious pride, I said, “How wonderful. You have every right to be proud. Is he going to practice in Wellington?” He replied, “Oh no, he’s going to Australia. You can’t make any money here.”
The New Zealand economic crisis hit about two years later. New Zealand could not compete in world markets – and could no longer afford socialism.