Thursday, July 21, 2011

Required Reading: "Cantor’s Charade"

Peter Galuszka has a must read column in Richmond's Style Weekly magazine called "Cantor's Charade":
Confronted by a huge financial problem that could well slip the weak economy back into recession, Eric Cantor, Richmond’s Boy Wonder of Washington politics, went for himself instead of us. In the past couple of weeks, the House majority leader from Henrico County has simultaneously played to the fringe elements of the political right as an anti-tax, anti-Washington zealot while slyly helping his real constituents, such as rich hedge-fund investors and powerful managed care companies.

These aren’t exactly times for political games. If the nation’s debt ceiling isn’t raised by Aug. 3, federal debt would be downgraded. That would have disastrous effects, as evidenced by similar problems in Italy, Greece, Ireland and other countries. Confidence in the United States would be shaken. Our anemic recovery, which produced nearly zero jobs in May and June, could well slip back into negative growth and, bingo, we’re back in 2008.
Read the entire column here.

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