Daily Beast: GOP Plans to Sink The Economy

[Julian Englis]

The GOP efforts to destroy the economy for political gain continue according to this piece:

We’re just under eight months away from Election Day now, which means that the GOP is starting to run out of time to think up new ways to ruin the economy so that Barack Obama doesn’t get reelected. The Republicans have to do this delicately, of course; they can’t be open about it lest it become too obvious that harming the economy is their goal. But they have to be aggressive enough about it for their efforts to bear some actual (rotten) fruit. There are three fronts—gas prices, jobs, and the budget—on which we should keep our eyes open for signs that the Republicans are trying to achieve Mitch McConnell’s No. 1 goal for America.

Let’s take them in order. The Republicans received joyous news Monday in the form of the Washington Post poll that showed Obama’s numbers sinking in inverse proportion to rising gas prices. The gas situation is perfect for the GOP for two reasons. First, there’s very little a president can actually do about gas prices. Second, even though those prices don’t really tell us much about the more general economy, most people have the impression that they do, so for the out-party, it’s just a free whack.

No one can blame Republicans for using Obama as a piñata on the issue. But here’s what they can be blamed for. What is causing these high prices? Not low supply and high demand, which is what they teach you in school. In fact, supply is high—domestic oil production is at its highest point in years, higher under this allegedly business-hating president than under oilmen Bush and Cheney. And demand has been low because of the economy, although it’s now picking up.

No, experts blame a lot of the increase on fervid speculation in the oil markets, and a chief reason for a lot of that speculation is anxiety in those markets about a possible war with Iran. Said anxiety, in turn, is heightened every time a politician blusters about how we have no choice now but to go start that war. So this kind of rhetoric is a nice little two-fer for Republicans, who get to sound like tough guys and can also take comfort in knowing that the more they talk up attacking Iran, the more they’re doing their small part to keep prices high.

More at http://news.yahoo.com/gop-plans-sink-economy-084500021.html

[cppuddy]

1. Have the GOP control all three branches of US Gov. ....worked out well last time didnt it.

If the American people are stupid enough to elect RUMMY for President; they will deserve everything they get: no SS, Medicare, cuts to everything, high taxes( because we are going to be paying for the rich.), no health care protection, war with Iran, 10.00/gallon dollar gas, high unemployment., and the list goes on and on.

A Corporate/TeaParty/Facist Utopia. It makes me want to vomit. I for one will say so long to the US. I am sick and tired of the uneducated morons that are in this country. Get a CLUE!! They are a sheep being led to the slaughter. They deserve all the 'nice' things that will happen to them.

[hifiguy]

2. That is a spot-on analysis. nt

[emulatorloo]

3. Thanks for posting this, excellent editorial. n/t

[DallasNE]

4. Obama Has Already Fired A Warning Shot On "Loose Talk"

A bitter McCain on Sunday took that shot personally but his response sounded like sour grapes. I'm betting that the GOP will overplay their hand and see this backfire. War talk, with recent events in Afghanistan, will not find receptive ears. Plus, we have seen the impact of not paying for trillion dollar wars and Norquist keeps them from paying for these misadventures.