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Wednesday, December 21, 2011

The Payroll Tax Cut Fiasco, cont...

Dec 21st, 2011

Frum lashes out at the WSJ op-ed everyone is talking about:

"But if anyone is to scold on this score, it should not be the Journal – which is as responsible as any of the House members for the GOP’s payroll-tax predicament.

The GOP is in trouble because deep down, Republicans do not want to do the payroll tax holiday. They ignored the idea when it was first floated back in 2009 by conservative economists as an alternative to a spending-side fiscal stimulus. Not until President Obama adopted the idea as his own in 2010 did congressional Republicans grudgingly join in support. In the year-plus since then, Republican talkers have denigrated the holiday as ineffective and worse."

Jennifer Steinhauer reminds us:

"By turning down a bill that was overwhelmingly supported by both parties in the Senate as well as the White House, the conservative House majority that has spent the year inciting combative legislative showdowns is now staring over the brink, standing fast against legislation with significant financial consequences for nearly every American household."

We are watching the total implosion of the modern GOP. I don't think it can be overstated. The shutdown nightmare of the Gingrich years pales in comparison. It's worth remembering that particular act of petulance had more to do with the Clinton re-election than the economy did. Where do they go from here?

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