As US debt negotiations propel this country toward the cliff, one thing is becoming increasingly apparent: Republicans are not interested in a deal, not even on their own terms. Obama has put forward a $4T plan that…well…gave the Republicans more than they asked for on deficit reduction. Boner and the House Thug’s rejected it because it included new revenues. Harry Reid, quite literally, gave Boner everything he’d outlined the previous week. Eric C*nter called the plan a “gimmick”.
Pundits claim that this high-stakes brinksmanship is about destroying the Obama administration, about defunding Medicare so that it can be used in the next election to get a ‘Thuglican back in the White House, but this is incorrect.
Republicans want a default, and here’s why: They’re not out to destroy Obama but the middle-class. They want, with one stroke, to wipe out that class of people that provide stability in this country but that also make elections volatile and unpredictable. They feel, that if they can destroy the middle-class, they can somehow consolidate Republican power for a generation.
Personally, I can’t really grok this twisted logic, but the result—what will happen to markets on Thursday and Friday—is the end that justifies, or at least exposes, the means. When 8 trillion more in wealth is wiped out between Thursday and Monday of next week, the loss will fall squarely on the middle-class. Most of us will be wiped out in one giant financial massacre, and every time I see the Republicans walk away from the negotiating table with some pathetic, lame, entirely new, excuse I become more convinced that the real goal of the Republican party is to finish us off for good.