David Kirkpatrick

May 9, 2008

The elephant in winter

Filed under: Politics — Tags: , , , , — David Kirkpatrick @ 12:25 pm

Here’s an interesting post describing the daunting task facing the GOP for this election cycle, and beyond. The quoted bit below describes exactly how the GOP completely ceased to be fiscally conservative by any measure. To my mind the GOP has ceased to be even socially conservative — I think it’s fair to say Republican social policy over the last twelve years, give or take, is much more Christianist than conservative.

From the link:

Republicans held all the levers of power in Washington for six years. They turned budget surpluses into huge deficits, which put pressure on the dollar. The financial industry’s house of cards got blown down and the Federal Reserve cut rates to head off a recession. That put even more pressure on the dollar. Its value sank against other currencies, and investors have taken refuge in commodities, driving those prices up. Republicans’ aggressive, swaggering foreign policy has shot uncertainty through the market, driving (dollar denominated) oil to record highs. Simply put, their policies have put us in a position where we can’t deficit spend, can’t lower prices, can’t cut rates and can’t do much to restore value to our currency. Even simpler, every time you fill up your tank or buy a loaf of bread you pay the Bush Tax.