Posted by Shyam Moondra
On the question of increasing the U.S. debt ceiling, Republicans are playing a losing game with a weak hand - they will not achieve their goals but they will do serious harm to the country and voters will not forgive them for this.
If there is a rating downgrade or actual default on the U.S. debt, the markets will crash and rich individuals and corporations will suffer most of the losses. It's inconceivable that Republicans would be stupid enough to hurt their own supporters because that would mean less campaign contributions and a humiliating defeat in the next election.
President Barack Obama is on the right side - his suggestion to reduce deficit by cutting spending and raising tax revenues in a 3:1 ratio is very reasonable and that is a proven formula used by President Ronald Reagan and President Bill Clinton that brought prosperity. In any case, Obama is morally right in asserting that rich people also share in the pain. As President Lincoln once said you place your feet in the right place and then hold firm. Obama has overwhelming support of the American people on his position.
As to the Republicans, they have gone completely mad, or as the British would say "nutters." There is a saying in Sanskrit "Vinash Kale Vipreet Budhi" - their brains gone mad and self-destruction is imminent (do Google search to understand the phrase better). It's like Republicans supported extremist Tea Party and now Tea Partiers are destroying Republican Party. May be the decline of the United States is "written," as in karma; the God is merely using Republicans as an enabler to massive self-destruction.
In a democracy, the people are the supreme. However, at the moment, a handful of Republicans and their leaders have taken the people and their fate as hostages, and the people are helpless because the next election is so far away.
