Robert Reich: S&P’s intrusion into American politics is also ironic because, as I pointed out recently, much of our current debt is directly or indirectly due to S&P’s failures (along with the failures of the two other major credit-rating agencies — Fitch and Moody’s) to do their jobs before the financial meltdown.
Joseph Palermo: The last-minute lobbying by the titans of industry and finance shows that President Obama might have had more leverage over the Republicans in the debt ceiling “negotiations” than he chose to exercise. We now breathlessly await the arrival of the “Super Committee,” the tragedy that follows the farce.
Walter Brasch: Since you like hunting, and they like hunting, your banker friends will let you buy all the guns and ammunition you want. But, they can’t help you on your health bills, or even lower the insurance premiums and co-pays. And, they can’t do much for that inflated mortgage payment. Or to help you find another job.
Tom Hayden: Launch a campaign progressive to the core, with no compromises on ending tax cuts for the rich and trillion-dollar wars.
Lucia Brawley: Polls showed a majority of Americans wanted Obama to compromise more. He did. In the election, no one can say he is the unreasonable one.
Ted Vaill: Seventy or eighty arch-conservative Tea Party members of the House and Senate have held this country hostage to their right-wing demands that we sacrifice entitlements belonging to ordinary, hard working Americans for the benefit of their rich friends. What is the mood of the ordinary American? Disgust.
Joseph Palermo: The debt ceiling gambit that Republicans in the House of Representatives have used to tie the U.S. government in knots in recent months is simply the California GOP’s tactic writ large.
Brent Budowsky: The extreme hard-line attitude of many Republicans has significantly raised the prospects for a national default and rating agency downgrades that would sweep across the nation and many states, causing an economic cataclysm and public outrage unlike anything ever seen in the history of the republic.
Robert Reich: The GOP’s experienced actors – House Speaker John Boehner and Senate Minority Leader Mitch McConnell – have been upstaged by juveniles like Eric Cantor and Michele Bachmann, who don’t know the difference between playacting and governing. Washington has gone from theater to reality TV – a game of hi-jinks chicken that could end in a crash.
Walter Brasch: After significant compromise with the recalcitrant Republicans who want to continue to give the wealthy tax advantages while cutting significant social programs, President Obama has finally taken a stand on debt ceiling negotiations. However, in labor, wildlife management, and the environment he is still compromising rather than coming out forcefully for the principles he and the working class and environmentalists believe.
Robert Reich: Senate Minority Leader Mitch McConnell’s compromise on the debt ceiling is a win for the President disguised as a win for Republicans. But it really just kicks the can down the road past the 2012 election – which is what almost every sane politician in Washington wants to happen in any event.