Is it already that time of year again? Another chance for the Republican Party to destroy the world economy with a debt ceiling standoff? Oh yes! Christmas comes but once a year, but the impending disaster of a US government default is something that pays benefits all the time. And we are but one month from another deadline when all reasonable Americans ask, “Are the Republicans really this reckless?!” The answer to that is: yes. They are like teens left along to monkey with the control room of a nuclear power plant. They don’t want anything to go terribly wrong, but they aren’t wise enough to know what they don’t know.

Back in 2003, the Republican Party raised the debt ceiling on the very same day that they passed a budget busting tax cut that did almost no good for the economy because it targeted the very rich. Imagine that: the Republican Party of 2003 was the careful one. If they manage to control Washington in 2017, I suspect we are looking at things that will make the Iraq War look like a wise and considered decision. I’m thinking: a war with Iran that devolves into a global nuclear war with Russia. I’ll bet Kevin McCarthy is fantasizing about it right now.

There was talk that Boehner might resolve this and various other issues before he stepped down as Speaker of the House. He did say, “I don’t want to leave my successor a dirty barn. I want to clean the barn up a little bit before the next person gets there.” But we haven’t heard anything from him recently. And even if he does raise it, is will most likely be a temporary measure — the same kind of thing he did for the government shutdown. Let’s never fix anything! Let’s just push the confrontation ahead a month or two!

Michael Hiltzik has pointed out that the whole idea of the debt ceiling was originally created in 1917 to give the Treasury Department more latitude to deal with the federal budget — not less. It was created so that Congress didn’t have to vote on every little thing. “The debt limit became a fiscal pitfall only after 2010 when talk of holding it hostage for political ends became commonplace.” The only previous time there was anything like this was under Newt Gingrich in 1995. And think about that for a moment. I have lots of policies that I prefer. But the idea of risking default for the sake of winning a political battle should be seen as treasonous.

I know what people say: the Republicans wouldn’t really cause the country to default! But I see no reason to think otherwise. The truth is that it might well benefit them politically. It would send our economy into a tailspin and the American people, in their wisdom, might reward the malefactors with complete control of the federal government. Or it would destroy the Republican Party. I am convinced it is the uncertainty about that which stops the Republicans from doing it. Regardless, the debt ceiling issue will come back, because it never goes away. Not as long as the Republican Party exists in its current form — as a failed party.

On Tuesday at Vox, Ezra Klein wrote, Why Marco Rubio Is Insisting That His Massive Tax Cuts Will Pay for Themselves, Explained. Of course, you don’t need to read the article to know the answer. Anyone around here knows the claim: his tax cuts will unleash the economy and cause such an increase in tax revenues, that the tax cuts will pay for themselves. This is literally the idea of every major Republican politician since at least late 1980. This is especially funny considering that Rubio pushes this image of himself as the hip-hop loving young guy with the new ideas.

What’s really bothersome is that Rubio now has one of these fake think tanks that spit out “studies” that prove that conservative policy would be just awesome. In this case, it is the Tax Foundation, which Klein stated charitably, “It produces research, churns out charts and tables, and scores tax plans, but it’s motivated by an anti-tax agenda.” Not that it is any worse than the Cato Institute, but let’s be clear: it is an organization that will only ever produce ideologically appropriate studies. In other words, it isn’t in the truth business; it is in the dogma justification business.

So now Rubio can go on television and not worry. Anytime someone questions him about his ludicrous tax plan, he can say, “The Tax Foundation has scored my budget and finds that it will create surpluses. Also: ponies for all good boys and girls!” The Tax Foundation even describes itself as “nonpartisan.” That, of course, means nothing at all, other than that they don’t specifically align themselves with the Republican Party. Of the three people on their board of directors that I can find out information about, all are Republicans. Conservative hack Glenn Hubbard used to be on its board. It’s a conservative group with a very big ax to grind.

This wouldn’t be a problem if we have an actual free and independent press that took its job seriously. But instead, when we get a discussion of it at all, it will be of the typical form, “The Tax Policy Center says Rubio’s plan will create a huge budget deficit — just like all the previous similar plans have; but the Tax Foundation says it will create surpluses and ponies; who can say which is right?!” And it is this kind of reporting that allows Republicans to continue to claim that their tax cuts pay for themselves after decades of false promises to do so.

You have to give the Republican Party credit. They were the first to see that we live in a postmodern world. They saw that you could just lie and the press would frame at opinion. Global Warming isn’t a matter of science, but rather a matter of opinion. Is Planned Parenthood extracting viable fetuses from mothers and then extracting their brains while they are alive? It’s a matter of opinion! I’ve long thought that we get the government we deserve. But I’m beginning to think that’s wrong. We get a truly dysfunctional government because our news outlets have decided that their job is to entertain rather than inform. Marco Rubio is the creation of our media system.

Matt Taibbi wrote a really interesting article last week, Wells Fargo’s Master Spin Job. It’s about this program that Wells Fargo has started, HomeLIFT. In it, qualified homeowners will be given $15,000 for a down payment on a house. So in the Detroit area, Wells Fargo is putting $5.25 million dollars toward this program. Why such an exact figure? It turns out that this is the amount that the bank is required to give to the area. The money it is paying is punishment for wrongdoing, but politicians and reporters all over the nation are presenting it like it is a great act of kindness.

This is all about the robo-signing scandal of the last several years. “People all over the country found themselves booted out of their homes thanks to bogus affidavits signed by ‘vice presidents’ and ‘regional managers,’ who were often scraggly kids just out of college blindly signing hundreds of documents a day, if not more.” Wells Fargo was one of many banks caught doing this and was part of a $25 billion settlement. There are various parts to the settlement, and Wells Fargo figured out this great way to spin their punishment to make it look like they are the good guys.

Taibbi documented how in most cities, the press has just gone along with Well Fargo’s framing of the issue. KMOX wrote, “Local Companies Join Forces For Home Ownership.” That was about the HomeLIFT program in St Louis that was putting in $4.75 million, “Again, this was exactly the amount specified in the court settlement.” The same thing in Fresno, “The $7.5 million Fresno program was, again, exactly the amount mandated by the Westland settlement.” And when Taibbi confronted Wells Fargo, they said it was just an extension of its CityLIFT program. But then it turns out that CityLIFT was just another court mandated program because of Wells Fargo’s discriminatory loan practices.

But I was wondering about what this would all mean if Wells Fargo were doing this voluntarily. It wouldn’t make me feel good about it. It’s kind of like the guy who beats up his wife and then brings her flowers the next day. Sure, the flowers are nice, but they hardly make up for the beating. And it is only too clear that the flowers are a kind of bribe, “Forgive me because the most recent thing I did is nice.” It’s certain that the guy is going to beat up his wife again. And he knows that the flowers work just fine — and if they fail, perhaps some jewelry.

This program is not going to make up for all the people who were wrongly thrown out of their homes. It is just a marketing campaign. But that’s the really sick part of this whole thing: this part of the settlement was explicitly meant to be marketing, “The terms mandated that the bank spend $67 million on a series of measures to repair its reputation in communities hit the hardest by foreclosures and robo-signing.” Our “justice” system is making sure that people continue to trust the banks that it wouldn’t allow to fail back in 2008. It’s disgusting.

Recently, Donald Trump was on 60 Minutes. I watched parts of it and I agreed with a number of things he said. This was before his “tax reform” plan came out and he showed himself to be a really typical, boring Republican. But one of the things he talked about in the segment was NAFTA. He said, “It’s a disaster…” And Mark Thoma, decided to look into the question, Is Donald Trump Right to Call NAFTA a “Disaster”? As I’ve pointed out in the past, Thoma is no firebrand. He’s a careful, if liberal, economist. And so his conclusion is that it is complicated.

Fair enough. But the main claim that was made for NAFTA was that it was going to a boon for jobs. But what did we see? We saw the loss of “somewhere in the neighborhood of 350,000 to 700,000 jobs.” But to be fair, in a nation the size of ours, that isn’t a huge hit — between a quart and a half of a percent. But the point is that it was supposed to be a job creator. On the one thing that the deal sold as, NAFTA was indeed a disaster. It didn’t do what it was supposed to do.

The evidence for its impact on Mexico is not even great. Brad DeLong — who might be biased, since he worked on the deal — finds that it netted a million and a half jobs. Others claim less. And as Thoma pointed out, “But whatever the actual number, just like for the US, it’s also relatively small.” There was no economic boom in the region. And the reason for that is that China became a big deal so all those jobs that would have gone to Mexico went to China instead. That’s obviously bad for Mexico, but also bad for the US, because if the jobs had gone to Mexico, those workers would have bought a lot of stuff from America that the Chinese are not.

But I think that Thoma is being too kind. I don’t think that the point of NAFTA was ever to create jobs. It was designed to make it easier for rich people to screw over working people here in the United States. Well, that’s probably putting too negative a gloss on it. It was a way for the rich to enrich themselves even more. In other words, it was yet another government program designed to help out the people who least needed helping. The fact that those people saw greater profits by going to China hardly changes the dynamic.

And now we have the TPP. It’s a treaty that isn’t even about breaking down trade barriers. Most of the signatories already have low tariffs. The big thing in the agreement is intellectual property law, and these will put unheard of tariffs — hundreds and thousands of percent — on covered items. Is this going grow the economy? Is this going to create new jobs? One thing that NAFTA clearly did do was increase inequality. TPP will surely do the same thing. It will make the poor poorer. It will make the rich richer. But in the end, no in power will care, because they know they can always hire another lackey like Obama to push through the next trade deal.

NAFTA might not have been a disaster in a general sense. But it wasn’t a good thing. And we have responded to that by passing trade deal after trade deal. We don’t live in a democracy, my friends.

Now the Trans-Pacific Partnership (TPP) is a done deal for all intents and purposes, it bears looking at again. The argument for it is that it is going to be great for the economy. That’s what President Obama keeps saying anyway. Of course, it’s bunk. Dean Baker made a good comparison recently, Donald Trump Says His Tax Cut Will Lead to 6% GDP Growth and President Obama Says TPP Will Boost Growth. That’s right: he’s saying that Trump’s widely mocked claim that his policies will lead to 6% growth are as ridiculous as Obama’s claims about the TPP.

It turns out that even people who are in favor of TPP don’t make much in terms of claims for it. The Peterson Institute claims that it will increase economic growth by 0.03% per year. This is literally at the level of noise. And in fact, that’s what others say. The United States Department of Agriculture said that the effect would be “too small to measure.” So we are getting a treaty that will weaken local laws, harm workers all over the world, and increase the prices of patented and copyrighted goods. But on the plus side… Well, there is no plus side.

For a while, a lot of people like me thought that maybe the crazy Republicans would step up and make this an issue. After all, isn’t this treaty exactly what they are always claiming liberals are trying to do: create a one world government that will tell the good God fearing people of Texas or Arkansas or Mississippi what to do? But they aren’t concerned about this treaty because they know that the down side will only affect the poor people and the up side will help the rich people. Thus it is everything that Republicans want in a law or treaty: something to screw the poor and help the rich.

But you might wonder: if the TPP is going to produce basically no economic growth, why do the rich care? Well, it is the same reason that drilling for oil in the Arctic National Wildlife Refuge has been such a big deal for such a long time. There is not enough oil there to make any difference to us on a national level, much less a world level. But it did mean billions of dollars for people who were already hugely wealthy. So it is a big deal to do. And it is the same thing here. This treaty is huge for the pharmaceutical industry. It is huge for Hollywood. But are we going to get better drugs or movies? Don’t be silly. This is about them being able to collect more rents on things they’ve already made.

So it is sad that Obama has pushed this through. In the end, I suspect people will remember him for Obamacare. But they will mention TPP in the same way that people mention NAFTA and Bill Clinton. “Oh yeah, well that was a mistake.” Not that Obama will ever suffer because of it. After he’s out of office, I’m sure that Pfizer and Roche will be eager to give him a million bucks to drop by and give a speech on something like volunteerism.

Plutocrats: 1
America: 0