Saturday, January 15, 2011

Why Crazy Talk Can Be Useful

I was contemplating Mike Huckabee's comments that Congress needs to stop the spending before it raises the debt ceiling. The theory is that if Republicans threaten to not raise the debt ceiling, it might force the Democrats to cut some programs. The problem with this theory is that most Democrats don't think that the Republicans are radical enough to vote against raising the debt ceiling. If I was President Obama, and Mike Huckabee was a congressman, I would call Mike's bluff. Because I don't think that he would put himself in the position of voting against the debt ceiling. Mike Huckabee is not crazy.

But what about Jim DeMint? Or Rand Paul? Would they gladly watch the American government default on its loans just so they could go back to their constituents and pretend like they did something about the debt? I think so. That's what makes them the crazy wing of the right. Historian and economist Bruce Bartlett calls it "monumental insanity." But it is just this insanity that might force spending cuts. I don't know that DeMint is bluffing.

It is the same concept with TARP. Most economist would argue that TARP was necessary to prevent a massive depression. The problem with TARP though (as everyone recognizes), is that it could encourage further bailouts in the future. However, because of the demagoguery of the crazy right, another bailout is more than likely out of the question. Bank lenders know fully well that the American people will not suffer another bailout. So, ironically, the people who lambaste TARP, while wrong on the policy details, do serve a useful purpose.

Crazy talk often helps in foreign policy. Iran, for example, has chosen this time in history to defy the international community because it knows that the international community is not in a position to do anything about Iran. It is the same with North Korea. I am not encouraging President Obama to start hurling threats at these countries, but my point is that Iran knows that the United States cannot do much to stop it at this point.

I certainly don't want to encourage crazy talk. But sometimes it can have its advantages.

12 comments:

zappo said...

Maybe a better title would be, "Why the Crazy left is useless"?

Pablo said...

My title meant to say that there are crazies on the right. Not that all right is crazy. I am on the right, and I don't think I am crazy. Or am I? Lol

Pablo said...

I changed the title to more accurately describe what i am talking about.

Anonymous said...

Jim DeMint is helping to keep Tea Party members in the Republican Party. Do you call that crazy?

Romney & DeMint in 2012!

zeke

Pablo said...

Zeke,

I kindly remind you of Delaware, Alaska, and Nevada. But that is not my point anyway. I as saying crazy as far as policy goes -- like refusing to raise the debt limit.

Pablo said...

Romney will never pick DeMint for VP. DeMint would weigh down Romney.

Bill589 said...

I don’t understand national economics very well. I can’t comment on that. But if we have to go through a tough time in order to fix our county, then I’ll do it.

"If there must be trouble, let it be in my day, that my child may have peace." T. Paine

OhioJOE said...

Well, I can kindly remind you about FL, PA and KY among others, but such a pissing contest would not be the point.

One man's sanity is another's craziness, but I've been called worse. Unfortunately, it will take a lot more than 'crazy talk' if you like that term, to get the Dems and even many Republicans to wake up on the debt issue.

BTW, I do agree with your premise on 'crazy talk' to a degree. After all, it was crazy talk by the Left on Iraq that now makes it impossible for us to attack Syria and Iran. I am not saying we should attack them, but our hands are tied. Thank you Left Wing Crazy Talkers.

Anonymous said...

Huckabee's comments that Congress needs to stop the out of control spending or there will be dire consequences is crazy talk?

Pablo said...

"Huckabee's comments that Congress needs to stop the out of control spending or there will be dire consequences is crazy talk?"

Not at all. But his comment that there is a possibility of not raising the debt ceiling is somewhat crazy. His comments about decreasing spending is not crazy at all.

Pablo said...

"But if we have to go through a tough time in order to fix our county, then I’ll do it."

Refusing to raise the debt ceiling will not fix our country. It will only her it. It is merely a symbolic gesture at "taking a stand against deficit spending."

Revolution 2010 said...

Your post points out that we need Republicans from all persuasions to be productive.