Fiscal Cliff Negotiations as Kabuki theater?
Excerpt:
If Wall Street finally begins to believe that this isn't just kabuki theater--that our leaders really are incompetent and might drive the country off the cliff--the stock market might drop in anticipation of a coming recession. And this, Valliere says, might suddenly wake up the politicians, who would then begin to worry about getting fired because of the crappy economy.Comment: My conclusion is that our leaders really are incompetent. Consider Bowles: State of Fiscal Cliff Talks Is ‘Pitiful’
“When you think that for better or worse, America will spend over $40 trillion in the next 10 years and these guys can’t find $200 billion to close their divide and prevent an economic collapse, it is pitiful,” Mr. Bowles said in an email to the Wall Street Journal.What's Kabuki theater? Kabuki theatre is known for the stylization of its drama and for the elaborate make-up worn by some of its performers.
Example: Senate Majority Leader Harry Reid said Thursday he plans to send his chamber home for Christmas
ReplyDeleteGOP leaders informed members in a brief meeting around 7:45 p.m. that the vote had been pulled and told lawmakers they could go home until after Christmas.
ReplyDeleteComment: Republicans have a problem ... they won't follow their own leader! A mess!
12/20: Will Boehner’s speakership survive until Plan C?
ReplyDeleteIt’s not entirely clear whether Boehner will be the speaker of the House a month from today. The vote to elect the next speaker is on Jan. 3. To win, you need an absolute majority of the House, not a plurality. Even a hopeless conservative challenge that attracts only a handful of Republican votes could deny Boehner the speakership until a consensus candidate emerged. Tonight’s vote makes that challenge more likely.
Comment: It would be a mistake for the Republicans to not support Boehner!
WSJ on 12/23/12: How 'Cliff' Talks Hit the Wall
ReplyDeleteAt one point, according to notes taken by a participant, Mr. Boehner told the president, "I put $800 billion [in tax revenue] on the table. What do I get for that?"
"You get nothing," the president said. "I get that for free."