Debt Limit Ceiling talks: Republicans lost a chance

On July 4′th David Brooks wrote:

Republican leaders have also proved to be effective negotiators. They have been tough and inflexible and forced the Democrats to come to them. The Democrats have agreed to tie budget cuts to the debt ceiling bill. They have agreed not to raise tax rates. They have agreed to a roughly 3-to-1 rate of spending cuts to revenue increases, an astonishing concession.

Moreover, many important Democrats are open to a truly large budget deal. President Obama has a strong incentive to reach a deal so he can campaign in 2012 as a moderate. The Senate majority leader, Harry Reid, has talked about supporting a debt reduction measure of $3 trillion or even $4 trillion if the Republicans meet him part way. There are Democrats in the White House and elsewhere who would be willing to accept Medicare cuts if the Republicans would be willing to increase revenues.

If the Republican Party were a normal party, it would take advantage of this amazing moment. It is being offered the deal of the century: trillions of dollars in spending cuts in exchange for a few hundred billion dollars of revenue increases.

A normal Republican Party would seize the opportunity to put a long-term limit on the growth of government. It would seize the opportunity to put the country on a sound fiscal footing. It would seize the opportunity to do these things without putting any real crimp in economic growth.

The party is not being asked to raise marginal tax rates in a way that might pervert incentives. On the contrary, Republicans are merely being asked to close loopholes and eliminate tax expenditures that are themselves distortionary.

This, as I say, is the mother of all no-brainers.

But we can have no confidence that the Republicans will seize this opportunity. That’s because the Republican Party may no longer be a normal party. Over the past few years, it has been infected by a faction that is more of a psychological protest than a practical, governing alternative. [...]

TAKE THE DEAL, Republicans! That is, they’d get much of what they wanted and they’d turn many Democrats against themselves. What is not to like?

But….well, it looks as if they are getting nothing.

Of course, the Tea Party types are furious.
Our tea party neighbors are learning an important lesson: the Republican leadership are about Big Money, and Big Money doesn’t want the U. S. to default on our debts. It is bad for business. This sentiment is well expressed here.

I suppose the the Republicans can draft a resolution saying that they don’t like President Obama. THAT is really going to help them.

Come on Republicans: work with us. You aren’t going to get 100 percent of what you want. Accept that and work together for the country’s good.

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