national business leaders are begging Rs to pull back from their position.
Which doesn't meant that he should (or that he shouldn't). Telling me who's making the argument doesn't tell me if an their argument is correct. Presenting their arguments might be useful, just telling me their making them (without being specific about who is making them or what they are) is pretty meaningless.
OTOH I also think he should pull back from his position. As I understand his position (I'm not certain my understanding is correct but I have heard him talking about it.) Its either that we should not extend the debt ceiling full stop, or that we shouldn't do so except in exchange for something like a balanced budget amendment. I don't agree with either of those positions.
But you don't think a stock market crash would ensue.
No I think default would cause a stock market crash. Its just that not raising the debt ceiling doesn't equal default.
Ron Paul needs to stop playing with fire in order to get his name into the press.
I can't read his mind of course, but I don't think that is what he's doing. He is supporting what he sees as the best policy. I think there are some good reasons to think its good policy, so I think I understand where he's coming from, but those reasons IMO, are not sufficient to support either the massive rapid slashing of spending, or the almost as massive rapid slashing combined with harmful tax cuts. And when I say slashing I really mean slashing, not the cuts in projected growth rates, or modest actual cuts that get called "cuts" or "slashes" by fans of big government or by the special interest beneficiaries of specific programs. I can get behind serious cuts over the long haul, but cutting spending that rapidly is too disruptive. Risking it in order to get control of out of control spending, might be worthwhile when the risk is modest. But if you hold out for a BBA before allowing the debt limit to rise, then the risk is very strong not modest. And if you just reject any increase in the debt ceiling at all, then its not just an issue of risking something your actually in effect calling for it.
Or in short I don't think he's playing games to get his name in the press, I think he seriously is trying to do what he sees as the right thing, but as with many other politicians' visions of the right thing, I don't agree with him.
Big adjustments need to be made, but they don't need to, and ideally should not be made that quickly. |
