Ugh. “Orders for U.S. durable goods unexpectedly dropped in June, raising the risk that a slowdown in business investment will weigh on the world’s largest economy in the second half of the year.”
Ouch. “House Republicans on Wednesday morning were calling for the firing of Republican Study Committee staffers after they were caught sending e-mails to conservative groups urging them to pressure GOP lawmakers to vote against a debt proposal from Speaker John Boehner (R-Ohio). Infuriated by the e-mails from Paul Teller, the executive director of the RSC, and other staffers, members started chanting ‘Fire him, fire him!’ while Teller stood silently at a closed-door meetings of House Republicans.”And why haven’t they?
Thunk. “Rep. Debbie Wasserman Schultz (D-Fla.), chair of the Democratic National Committee, said Wednesday that House Republicans are trying to impose ‘dictatorship’ through their tactics in the debt-ceiling negotiations. She said the GOP rhetoric could ‘spark panic and chaos,’ which she called ‘potentially devastating’ to the economy.” You can feel Rep. Allen West’s pain.
Oops. He’s getting the wrong guys mad. “A top Russian official today called Sens. Jon Kyl (R-Ariz.) and Mark Kirk (R-Ill.) ‘radicals’ and ‘monsters of the Cold War’ and warned that the U.S.-Russia relationship would collapse if Republicans came to power.” Even worse was his fawning over President Obama. Read the whole thing.
Cheers, for some reality checking. “On Monday night Mr. Obama blamed President George W. Bush’s ‘two wars’ for the debt buildup. But national defense spending was 7.4% of GDP and 42.8% of outlays in 1965, and only 4.8% of GDP and 20.1% of federal outlays in 2010. Defense has not caused the debt crisis.” And Obama was in favor of one of those wars.
Hooray, for the conservative dealmakers! “Would Reagan support the Boehner plan for cutting spending while agreeing to a hike in the debt ceiling? I think so. He would see it as the best deal that’s attainable at the moment. Sure, he would favor deeper cuts, lower spending caps, and a balanced budget amendment, too, but he would recognize those can’t pass now. He wouldn’t let his pursuit of them keep him from achieving something substantial now.”
Yay, for Plum Line, which gives Republicans a roadmap to why the Boehner plan is far more conservative than it is.