From CHAUNCEY DeVEGA
The Republican Party is holding the U.S. economy hostage. While the American people overwhelmingly support a solution to the debt ceiling impasse that includes a mix of tax hikes on the rich and cuts to the federal budget, the Tea Party GOP is deaf to their concerns. Moreover, even though President Barack Obama is willing to make painful concessions on entitlement spending—a move that hands the Republican Party a practical win—the Tea Party GOP remains intractable in its refusal to support even the most minimum of tax increases on the wealthiest Americans.
The American people, the world’s financial markets and the pundit classes remain perplexed by the Republican Party’s dangerous brinkmanship. Why would they risk financial armageddon? What is the practical gain to be had from such irresponsible behavior? Is this a ploy to undermine the Democrats before the 2012 election?
Observers remain befuddled because they have failed to connect the dots between the Republican Party’s intransigent stubbornness and a populist brand of conservatism where the world of facts has been made secondary to the intoxication of faith…
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