Wednesday, January 19, 2011

Fiscal Irresponsibility

James Kwak has the breakdown of the two parties in contrast:

The bottom line: As a party, the Republicans who will be railing against fiscal irresponsibility and threatening to block a raise in the debt limit are the irresponsible ones themselves who created the need to raise that debt limit. The Democrats can claim to be somewhat less irresponsible; more to the point, perhaps, insofar as they did vote to raise the debt, at least their current behavior (assuming that most support the administration and vote to raise the debt limit) is at least consistent with their past votes.

Of course, it’s more fun looking at an individual level. And the only people who can claim not to be responsible for the national debt — at least not via any of these five bills — are the newly elected members (except Rob Portman and Pat Toomey, who voted down the line to increase the debt as Congressmen) and Tom Coburn, who joined the Senate in 2005 and voted against both the stimulus and the 2010 tax cut.

By contrast, Republican leaders Mitch McConnell and Jon Kyl each voted for $2.3 trillion of debt (75 percent), yet will somehow try to argue that the need to raise the debt ceiling is not their fault.

The hypocrisy runs rampant. Now will anyone in teh media call them out on this? Highly doubtful and thus the Elefuggs can continue their "hawkoprite" ways. Read the whole article for data, sources and revealing analysis.

I am Frank Chow and I approved this message

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