The Idiocracy Has It's New King

Banana Slug Impersonator Mitch McConnell, holder of a 45 seat minority majority in the Senate, has recently said he will not raise the debt ceiling until he gets Health Care repealed and other Things Which Will Not Happen.

What does that mean?

Global economic meltdown. This isn't government shutdown territory, this is an absolute collapse of the global and American economies, the end of America's role as the stable center of global commerce and the destruction of everyone's savings and retirement plans.

To repeal something that hasn't even been given a chance to work.

Every year when we start learning about Alexander Hamilton's debt financing plan, my students always want to know why we can't just walk away from all that debt.  "Hey, we owe the money to ourselves, so let's just give ourselves a pass."

But US debt is the foundation for much of the world's currency reserves, much of the world's liquidity and effectively acts as the world's holding currency.  That's why the Saudis and Chinese own so much of it.  Default on that...Have you watched the Mad Max movies recently?

Everyone wants Obama to compromise with the GOP.  But I have watched him try and reach out to members of the GOP, changed legislation like the stimulus to win their support and then they don't vote for it anyway.  Now they are saying, do what we want or we'll destroy the whole economy.

It hasn't been 48 hours since the polls closed and already they are talking about defaulting on the US debt.

Hopefully (I guess) this is just Mitch puffing his chest out to subvert a right wing challenge from Jim DeMint for Minority leader.  He's going to talk Tea Party crazy and then return to sanity once he retains his post.

But it chills the hell out of me that he really is that stupid.