Absurdity exposed [Bryan]

Well, we seem to have got ourselves a compromise on tax policy for the next two years. In reaching the compromise, the absurdity of Washington D.C. was exposed in all its glory. Consider that we have recently been having two debates in this country. The first was about how many billions we can cut off taxes, particularly for those who are well off. The second was about how we are going to go about cutting the yearly budget deficit -- we even had a nifty commission and everything. It rarely received much attention in the popular press, as far as I can tell, that these two debates were pointing in opposite directions.

First, the absurdity of the "deficit hawks" was exposed. Many of those same people, Republicans and Blue Dog Democrats, who have wrung their hands about any form of deficit spending, are now celebrating the tax cuts that will add $800 billion to the deficit. The next time any of these people pretend to care about short term spending that isn't "paid for" we should collectively laugh. We should all just admit that deficits are a good thing right now.

The absurdity of many of the Democrats was exposed. In fighting so hard for their proposal to let the taxes return to the level of the 1990s for the rich, they were fighting a battle that was only a little bit more responsible, long term, than what the completely reckless Republicans were proposing. They chose a rather arbitrary line to make a stand, and now they look like losers, as usual.

Finally, the moral corruption and intellectual bankruptcy of many on the Right has been exposed. Recently, the Senate Republicans, united as a caucus, sent a letter to Harry Reid saying that they would filibuster literally everything until the tax debate was resolved to their liking. In effect, this meant that nothing could even get a vote until those making more than $250,000 got their extra tax cut. Nothing -- not nuclear weapons treaties (START), not the defense appropriations bill (in the middle of war!), not the extension of unemployment benefits -- would get a hearing. Everything was held until the Republicans saw more money in the hands of the wealthy. It was impressive in its own way, hardball, no-compromise politics at its most extreme. It seems to be the one thing they care about, and they got their way.

Out of all this absurdity, we have a policy that is .... not all that bad in the short term. The key problem right now is still the economy and job growth. Short term, we do need to run big deficits. Short term, many forms of tax cuts are good (a category that does not, unfortunately, include tax cuts for the wealthy that the Republicans were so dogmatic about -- these are very poor stimulus). Interesting how such an inane discourse can produce a outcome that is not all that inane.