In the latest showdown over debt reduction, we learned a lot about the leaders of today’s Republican Party over the weekend.
Let’s review where we were on Friday.
Republicans had succeeded in making debt reduction, not jobs, the #1 issue.
Republicans had forced Democrats to agree to massive budgets cuts now – as a price for raising the debt ceiling and keeping the American economy afloat.
Republicans had even forced President Obama to agree to putting cuts in Social Security and Medicare on the table.
And all this in return to agreeing to get rid of tax hand-outs to oil companies, hedge fund managers, and corporate jet owners – and ending the special tax breaks for millionaires and billionaires.
Only an idiot, said conservative columnist David Brooks, could refuse that deal. But that’s exactly what happened.
Saturday night, John Boehner called President Obama at Camp David and told him Republicans could support NO new tax increases and no cutting of special-interest tax loopholes.
And suddenly the whole budget deal fell apart.
Which confirms what we already knew: Republicans don’t want a deal. They are interested in denying President Obama a political victory – even if it means wrecking the American, and global economy.
That’s my parting shot for today.