Well now ! Dear old Vince is in my sights today. This time he's attacking US Republican politicians for, he says, holding up a deal to reduce US government debt. Bright as he no doubt is, I wonder whether Vince has been a bit too hasty for his own good? Certainly it's unwise, if not just plain rude, to refer to the politicians as right wing nutters. Right wing maybe - but nutters ?
Of course all reasonable Americans want to see the huge US debts reduced; even though such reductions would come from tax increases and spending cuts. But President Obama and his colleagues maintain there is also a need to raise the current $14.3trillion borrowing limit - potentially allowing debt to increase - so that the US Treasury cash flow is sufficient to allow it to pay its bills !
So there are two challenges here: reducing debt and meeting imminent financial commitments. So far as I can see the Democrats want both processes to be agreed together and now. The Republicans want to agree the borrowing limit first and afterwards agree what spending cuts and tax rises are necessary.
You may not like the Republican's view, Vince dear, but it's hardly unreasonable?
