The President stomped out of a bi-partisan meeting on the debt ceiling yesterday. Another demonstration of maturity. The man appears to be discovering the practice of democracy. It’s dawning on him that he was not elected King or Chairman of the Supreme Soviet. Yet, there is still no sign of Obama Derangement Syndrome among conservatives. I think I know why; I have said it before: He looks like a little boy caught trying to drive his daddy’s car. You can’t hate this!
Somehow, I am not worried about a financial Armageddon. Both sides are bluffing. That’s what we are paying them for. There will be a last-minute compromise. The debt ceiling will be lifted some. There will be illusory, fake tax raises to satisfy the President’s Progressives (who rarely read in depth anyway). Some serious reform will begin to reduce our collective propensity to overspend on government. I don’t know what form it will take. Yet, for the first time in my life, I am optimistic that the federal spending beast will be durably restrained.
In the meantime, according to Michael McConnel in 7/14/11 WSJ, President Obama and the Democratic Senate have been violating the 1974 Congressional Budget and Impoundment Act for several months now. In my view, that’s more of an impeachable offense than whatever Bill Clinton did in the Oval Office with “that woman” (whatever her name is. I wonder what she is doing now.)