*(Via TheGrio.com) – President Obama’s compromise on the debt ceiling increase unleashed a simmering anger from the left wing base of his own party. It’s altogether quaint that Congress can engage in reckless economic policies for three decades, only to brand the president’s unwillingness to let the country default on its debt as traitorous and inexcusable.
A narrative has been written that President Obama’s not quite tough enough to represent the interests of his constituents, prompting another debate on the president’s inability to hold his ground against the ill-tempered Republicans and alpha male conservatives. Financial collapse wasn’t a fair price to pay for respect; liberals favored testosterone over diplomacy.
But if the right wing platform is so devoid of logic, the left side of the aisle has been historically pedestrian in its alleged disapproval.
The 2001 Bush tax cuts easily passed the House of Representatives by a vote of 240-154 and 58-33 in the Senate with bipartisan support. The Democrats didn’t filibuster what they now consider an unjust handout to the rich and force the GOP to use reconciliation; instead they just complained on Sunday talk shows with breathtaking indifference, putting on a well orchestrated show of opposition.
Where was the indignation when President Clinton signed the Commodities and Futures Modernization Act of 2000 that deregulated derivatives, paving the way for the reckless trading in credit default swaps that almost collapsed the stock market? Phil Graham authored the legislation, but 181 out of 208 House Democrats voted for it. One could easily reach the conclusion that backbones were out of season.