Some in Big Media and Republican circles are perplexed. They don’t understand how Obama can seriously state that he will veto a short term debt deal, thereby supposedly throwing the country into default, because he wants a long term debt deal. ‘Isn’t that making the perfect the enemy of the good?’ (if we take Barack Obama at his word – which we do not and no sensible person should either) these befuddled observers ask. It’s typical Obama flim-flam.
He’s played the same bullchips before. Hillary Clinton supporters remember – South Carolina, January 21, 2008:
“CLINTON: There was a particular amendment that I think is very telling. It was an amendment to prohibit credit card companies from charging more than 30 percent interest. Senator Obama voted for it. I voted against it. It was one of the biggest lobbyist victories on that very bad bill that the bankruptcy bill represented. And I think it’s important. You know, if you look at the recent article about Senator Obama’s work on health care reform in the Illinois legislature, it’s a very interesting piece about how he basically did the bidding of the insurance companies during that effort. Now, I’m just saying that if we’re going to…
CLINTON: … be hurling these charges against one another, I’m used to taking the incoming fire. I’ve taken it for 16 years. But when you get into this arena…
… you can’t expect to have a hands-off attitude about your record. And it is perfectly fair to have comparisons and contrasts. I voted against a 30 — I voted for limiting to 30 percent what credit card companies could charge. Senator Obama did not. That’s a fact.
OBAMA: Absolutely. It is a fact, because I thought 30 percent potentially was too high of a ceiling. So we had had no hearings…
… on that bill. It had not gone through the Banking Committee. I don’t know about a lot of folks here, most folks here, if they’ve got a credit card, are paying 29 percent. So under this provision, that would’ve been fine. And we had not created the kind of serious…
EDWARDS: You voted against it because the limit was too high, is that what you just said?
OBAMA: That is exactly what I just said, John, because…
EDWARDS: So there’s no limit at all.“
It was John Edwards’ only decent moment in 2008. Back then the issue was a ceiling on credit card interest rates. Now it’s a ceiling on the national debt. For Obama it is the same flim-flam. In both instances Obama makes the same convoluted argument. On the bankruptcy bill Obama did the bidding of the financial services industry and its lobbyists. Now Obama will do anything to prevent election year discussions of his own record on the economy, jobs, and the debt.
Barack is so ineffective and ineffectual.
You get the idea Michelle had to take the lead in pregnancy because he would have screwed that up as well.
Not a Michelle fan by any means but watching him (mis)lead America, I have a new appreciation for Michelle. What that woman has to put up with.
I can picture them in Chicago with a flat. Michelle's saying, "Change it," and he's insisting that they don't need to rush, they need to form a commission first and maybe they need to explore something bigger than a tire change? Maybe they need new brakes?
Michelle's standing there going, "Fix the damn tire."
And he's saying, "Well now the power steering feels off too. There's no need to blindly rush in. Let's --"
What a nightmare.
At WSWS, Patrick Martin writes:
The ratings agencies, like the Wall Street firms they represent, have lined up behind the Obama administration in seeking the largest possible deficit reduction package, at least $4 trillion over the next ten years.
S&P analyst John Chambers, discussing the downgrade warning, told the press, “Our working assumption is that this is the time to get a meaningful agreement by both parties. Once this moment passes, future moments will be more difficult to ascertain.”
In a further sign of unease in financial markets, the dollar fell Tuesday against most world currencies, while the price of gold rose $4.60 an ounce, ending the day at $1,616.80 an ounce. The price of gold topped $1,600 for the first time on July 18.
According to a report in the New York Times, some hedge funds are stockpiling cash, planning to buy up US government securities at cut-rate prices if there is a default or debt downgrade which forces pension funds and other institutional investors to sell their Treasury holdings.
The price of credit-default swaps, which would pay investors in the event of a US default, has doubled in the last few weeks, which one financial columnist cited as “indicating a lively market for bets against America.”
So he's trying to create a crisis and then ram his sell-out of America down our throats.
Going out with C.I.'s "Iraq snapshot:"
Committee Chair Patty Murray: What were you spending your time doing all of that time?
Already, The Party of the Century has hit a snag with Aswat al-Iraq and Al Sabaah noting Saturday as the big day. Aswat al-Iraq notes the delay is said to be to other pressing issues.
Hemin Baban Rahim (Rudaw) reports on the issue of withdrawal:
In an interview with Rudaw, Dr. Mahmoud Othman, an independent Kurdish member of the Iraqi Parliament, said the planned US troop withdrawal has turned political but that US troops are needed in Iraq's disputed territories.
"Iraqi security officials have to present their own report about their ability to maintain Iraq's security," Othman said. "But right now they do not play any role and instead it is politicians who make decisions for them, which is really bad."
Kurdish politicians in Erbil and Baghdad advocate for extending the US troop presence in Iraq. Othman, however, said it is a national issue and if Baghdad decides the US military must leave there is nothing the Kurds can do about it.
In other news, Aswat al-Iraq reports:
A Legislature of Iraq's al-Ahrar (Liberals) Bloc has charged the government of Iraqi Prime Minister, Nouri al-Maliki, with "failure to face violations by the U.S. forces in southern Iraq's Missan Province."
Legislature Amir al-Kinany was quoted to have told al-Hayat newspaper on Wednesday that "Maliki's government was implementing hostile operations against the Shiite Sadrist Trend," charging the government "with being disable to stop the violations by the occupation forces in Missan Province."
Dar Addustour notes these issues are supposed to be addressed by Parliament today. In addition, Aswat al-Iraq notes State of Law is supposed "to vote no confidence on Election Commission."
In other news, since the middle of July the Iranian military has been shelling northern Iraq and possibly entering the area. Radio Zamaneh notes the protest that took place yesterday against Iran's actions, "A group of Iraqi Kurdish activists and citizens demonstrated today in Arbil, the capital of the Kurdistan Regional Government, to decry Iran's artillery attacks in the Iran-Iraq border region. A Radio Zamaneh correspondent reports that the demonstration was organized by the Iran Ist [Stop Iran] Campaign, an umbrella group of various civil organizations in Arbil. The demonstration began at the governor's buildings and ended at the Iranian consulate."
Still on religion, Geoff Ziezulewicz (Stars and Stripes) reports on Ramadan:
As Muslims prepare to observe the holy month of Ramadan with fasting and prayer, U.S. troops across the Middle East are being reminded to respect the customs of the societies around them. Among the guidelines: Do not eat, drink, smoke or chew gum in public during the daily fast, and dress appropriately: no shorts or short skirts.
During Ramadan, which this year begins Aug. 1, Muslims refrain from eating or drinking between sunup and sundown.
Among guidance issued to U.S. military deployed in Muslim majority countries, the Bahrain-based command of U.S. Navy 5th Fleet posted guidance for sailors and their family members to heed during Ramadan when off base.
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