We Told You So, No. 002

This is the second in what will be a regular feature (see our first post here). It’s based upon what is known as the original position fallacy:

This, of course, was predictable for the average MAGA voter, they were warned many times that Trump & Company had no true regard for their own supporters (except their mega wealthy cabal). Cheering on all of Trump’s plans the MAGA crowd were looking forward to the firing huge swathes of our federal workforce according to the Project 2025 playbook. And without thought of consequences these MAGAs failed to take notice that there are many MAGA adherents in that federal workforce. Thinking things through is not one of the characteristics of the entire MAGA movement, from top to bottom.

So, now, just seven weeks into the Re-Trumping of America, thousands of federal workers have been summarily laid off and RIFed. Those MAGAs who have been directly or indirectly harmed by this have learned the lesson of the original position fallacy. And more lessons will be forthcoming to MAGAs who disproportionately rely on programs being axed by the GOP/MAGA, for instance, Medicaid, administration interference with Social Security and Medicare, and the decimation of the Veterans Administration.

So, here’s is today’s example of buyer’s regret, courtesy of Twitter/X poster Tim Hannon’s retweet of a February 6th cris de coeur from MAGA town:

Trump’s Tariff on Canada – A Shot Glass Example of Canadian Retaliation

The Liquor Control Board of Ontario quickly addressed Trump’s 25% tariff on Canadian products, one of our staunchest allies. It is also a major trading partner from whom we imported $462 Billion in 2023, the year with the most complete data. Here’s what we imported, second only to Mexico. So, we’re talking 25% tax on American importers, that’s a very high tariff rate, which due to NAFTA, was approximately 2%. Now, we’re in a new world where an inept businessman is permitted to impose tariffs willy-nilly.

In any event, here’s an example of how quickly the Canadian Province of Ontario replied to Trump today. (The Liquor Control Board of Ontario (LCBO) is a government agency. It is a Crown agency that is owned by the Ontario provincial government. The LCBO is responsible for the sale and distribution of alcohol in Ontario.). The Premier of Ontario, the wonderfully cantankerous Doug Ford posted this on Twitter/X:

Assuredly, more will follow, and recall that the automobile business is a tripartite arrangement among us, Canada and Mexico. We may see price increases on cars very soon (like tomorrow), So, if you can, buy a new car today. . .

DOGE’s Loss Is Ohio’s Loss Too

The first act by the the advisory commission known as the Department of Government Efficiency (DOGE) is the departure of Vivek Ramaswamy, one of the two top officials to pursue his bid for governor of Ohio. The (quite likely true) rumor is that Vivek’s open mouth policy has caused peptic rumblings among congressfolks and Trump himself. He particularly incensed the America Firster tribe with his recent comments supporting the H1-B visa program primarily by making it quite clear that homegrown Americans are dumb as stumps. He indicted American entertainment culture as the chief culprit. His solution:

“More math tutoring, fewer sleepovers. More weekend science competitions, fewer Saturday morning cartoons. More books, less TV. More creating, less ‘chillin.’ More extracurriculars, less ‘hanging out at the mall.’”

Americans of all stripes objected to his comments, and generally, to his overall personality which many compared to “fingernails across a chalk board.” Also, in his usual way, Vivek offered no actual evidence supporting his view; in fact, American engineers are acknowledged as among the finest in the world. Vivek is very efficient if not effective in his thought processes, mouthing off first, thinking later. For instance, he failed to recognize that most high school and college students do their homework “hanging out at the mall.” He lso ignored the vast diversity throughout the world, where most countries exhibit similar characteristics in their societies, the world contains its own entertainment culture, it’s not exclusive to America.

In any event, Ohio needs to brace itself for a Vivek run for governor. As we know he can talk, and talk and talk, all with a self-satisfied certainty. How long will it take for him to talk his way out of contention? As he’s shown in his DOGE exit, he may not get past day one. Let us hope.

Four Problems with Perfessor Gingrich’s “American Schoolchild Janitorial Initiative”

November 24, 2011

“You’re going to see from me extraordinarily radical proposals to
fundamentally change the culture of poverty in America.” 
Newt Gingrich speaking at Harvard’s Kennedy School of Government,
last Friday, November 19, 2011. 

  Yes, sir. That’s what we’re afraid of . . .

Here’s the well-reported gem from the Perfesser’s comments at Harvard’s Kennedy School of Government: “It is tragic what we do in the poorest neighborhoods, entrapping children in, first of all, child laws, which are truly stupid. Most of these schools ought to get rid of the unionized janitors, have one master janitor and pay local students to take care of the school. The kids would actually do work, they would have cash, they would have pride in the schools, they’d begin the process of rising.”   

The story being highlighted in the media is, of course, the one about children acting as junior janitors at public schools in the “poorest neighborhoods,” what we might call the “Newt Gingrich P.S. America Schoolchild Janitorial Initiative.” Yet, that’s not all that is there – contra Gertrude Stein, “There’s a lot of there there.” Closely read, Gingo’s comments reveal a cornucopia of bigoted and often downright wrong perceptions about these “poorest neighborhoods.” His underlying conceptions about the poor and the not-so-poor reveal his well-known failure to dive very deeply into facts and their consequences. He creates a mishmash of facts and not-even-conceivable non-facts like wake behind a cruiser going full speed through a small marina.

Here are four items to consider from his three-sentence backwash:

1. “first of all, child laws. . .”  The Perfesser starts out his observations with a perception that we entrap children in the poorest neighborhoods. My guess, he’s referencing African American and Hispanic urban neighborhoods. Surely, it would be difficult to negate the not merely metaphorical entrapment these children face. Yet, look at what Gingo picks as the first way in which we entrap these children – “first of all, child laws.” That first: Laws that benefit and protect children.

Gingrich neglects the 16% and 13% unemployment rate for African American men and women (respectively), with an underemployment rate that approaches 25%. Also unmentioned is the 11+% unemployment rate of Hispanic men and women. Add to that the low wage status of those who are employed in primarily dead-end jobs. The Census’ September 2011 publication, Income, Poverty, and Health Insurance Coverage in the United States: 2010, reported that household income for African American ($32,068 ) and Hispanic ($37,759) families distantly trailed white family incomes ($54,629), and in urban areas the margin is worse. Poverty rates approach 27% in urban areas for African American and Hispanic families. Moreover, a recent study found that poor urban neighborhoods are rapidly growing in population and becoming more isolated from other neighborhoods. 

These, far from a complete array of those available, are missing from the Perfesser’s just-throw-it-out-there “analysis” of urban education and labor issues, they always have been. He often simply lofts these half-baked “ideas” into the mediasphere seemingly without fear of pushback, although pushback always comes (today, he tried to revise his statements at Harvard). For a self-admitted genius, he doesn’t seem to learn much from experience. Perhaps, with more time at MENSA . . .

Tackling the historic trend of inequality in the United States would take a 1960’s type effort. The attack would be aimed at strengthening, not weakening, laws that helped end child labor and other labor abuses. We’ve been there before. Yes, Perfessor, times have changed since the Gilded Age, some nibbling around the edges of minimum age laws may be in order. Unfortunately for most of us, Gilded Age standards are what you and the GOP have in mind. You’re a certified “Historian,” Perfesser, how did you miss U.S. child labor history?

2. “the poorest neighborhoods . . .”  There is more to just suggesting that children work as janitors, or in any other occupation, during their school years, particularly when speaking of kids in the “poorest neighborhoods,” as Gingo put it. The federal and state programs that support these children of the working poor are primary targets of Gingrich’s “anti-poverty” proposals. For example, he once proposed disallowing children of legal immigrants access to federally subsidized school lunches. He favors block granting education funds to the states. One can only imagine what Texas or Arizona would do with those funds. In reply, I suppose that the Perfesser would point to the wages the children would earn as part-time janitors and suggest they spend that pittance on their lunch. Again, another brilliant idea, but no thanks. And Gingo’s ignorance goes much deeper than opposing school lunches, pushing draconian workfare programs, etc. He simply makes no connection between a child of poverty and his or her environment, particularly the lack of sustenance that begins in utero for many inner city children.

3. “ought to get rid of the unionized janitors . . .”  Next, let’s turn to the Perfessor’s mini-lecture on labor, in particular, his reference to union labor. He begins (and ends) with this, “Most of these schools ought to get rid of the unionized janitors,” and, of course, hire one “master janitor” and his pre-pubescent minions.  This is nothing new for Gingo, he’s long detested unions. In any event, this small parenthetical gives us a look into Gingo’s . . . heart.  His plan is, as we’ve read, for schools to, first, fire all but one adult janitor and then hire school children as his work force, and all non-union. In general, why do people like Gingrich advocate union destruction? Freedom of contract? As they say, “not so much.” Destroying unions is all about reducing negotiating powers that can only be found in workers’ numbers, and, most importantly, then having the corporate power to reduce benefits, safety expenses, allied costs, and wages. So, under the vaunted Perfesser’s “P.S. America Janitorial Initiative,”

  • Adult janitors would be fired right and left, presumably to take positions at Goldman Sachs, 
  • their unions, should they exist, would thereby be weakened or destroyed, 
  • young children at each “retooled” school would then be employed in their stead, and,
  • the entire janitorial staff could then – and would then – be paid a pittance for their labor, thus helping drive down labor costs throughout the industry.   

Once again, although with due respect for your braininess, Mr. Gingrich, I disagree.

4. “they’d begin the process of rising. . .”  Next on the list of Gingrich’s hit list of “thoughts” is work qua work. When going on about how much his national cadre of child janitors would benefit from his Janitorial Initiative, Gingo’s final words point to the future of these children, “they’d begin the process of rising.” Here he reveals a prejudice as old as our nation’s earliest days, derived from its unfair economic advancement through the labors of enslaved persons, particularly in the south. The notion that people of color must have an incentive to “begin the process of rising” is still afoot, assuredly in Gingrich’s world view.

The work “incentive” he implicitly references is not merely an add-on to an individual’s natural propensity to work. The “work ethic,” according to the longstanding prejudice, is missing in some, particularly in persons of color. By dismantling Gingo’s phrases for their genesis in racial bias, it’s clear he’s not talking about wage or promotion “incentive” here. He’s talking about force: forcing a naturally indigent population to, as he says, “actually do work.”

To push children into the work force who are already disadvantaged by the poverty of their elders, and the concomitant undersupply of nutrition, health, and emotional resources that their poverty brings in its natural wake is certainly enough to commend Gingrich’s idea to the rubbish. But, still dissatisfied, the Perfesser – his presidential contestants, and the GOP base then propose gutting or rendering fictional through block grants the federal programs that help mitigate the real disadvantages among school children and their families.

That’s not inspiration Mr. Gingrich, that’s plain and simply ignorance driven, as it ever is with you, by your inherent nastiness, and the racial and class bias you are not smart enough to shed. Perfesser, just like when you were denied tenure at West Georgia College in 1978, you are dismissed, with prejudice. 

Happy Thanksgiving from Newt Gingrich to the Nation’s Children!

November 23, 2011

Gingo has been busy using his brain cells this Thanksgiving season, trying to match his ideas to the season. Here’s what his gigantic brain – shorn of practicality or child safety and welfare concerns – came up with:

“It is tragic what we do in the poorest neighborhoods, entrapping children in, first of all, child laws, which are truly stupid.  Most of these schools ought to get rid of the unionized janitors, have one master janitor and pay local students to take care of the school.  The kids would actually do work, they would have cash, they would have pride in the schools, they’d begin the process of rising”

Perfessor Newt Gingrich at Harvard’s Kennedy School of Government, November 19, 2011

This from a guy who hasn’t done a bit of manual labor during his lifetime . . .

Think, Gingo, think . . .


Image copyright M.V. Matheron

No Tax Credits for You, Senator DeMint Tells Veterans

November 11, 2011

Yesterday, the terribly ineffective U.S. Senate agreed on something, and astonishingly, it was a jobs bill, heretofore a non-starter.  However, in a nearly unanimous vote on the “Vow to Hire Heroes” bill they agreed that it just might be good policy – and just plain decent – to offer a tax credit to businesses that hire veterans. Furthermore, the bill contains far more than the tax credit provisions ($5,600/veteran; $9,600/disabled veteran). Here’s how the tightfisted House GOP Chairman of the Veterans’ Affairs Committee wrote of what this bill would provide: 

• Expanding Education & Training: To begin moving veterans out of the unemployment lines, the VOW to Hire Heroes Act of 2011 provides nearly 100,000 unemployed veterans of past eras and wars with up to 1-year of additional Montgomery GI Bill benefits to qualify for jobs in high-demand sectors, from trucking to technology. It also provides disabled veterans who have exhausted their unemployment benefits up to 1-year of additional VA Vocational Rehabilitation and Employment benefits.
• Improving the Transition Assistance Program (TAP): Too many service members don’t participate in TAP and enter civilian life without a basic understanding of how to compete in a tight job market. Therefore, the VOW to Hire Heroes Act will make TAP mandatory for most service members transitioning to civilian status, upgrade career counseling options, and job hunting skills, as well as ensuring the program is tailored to individuals and the 21st Century job market.
• Facilitating Seamless Transition: Getting a civil service job can often take months which often forces a veteran to seek unemployment benefits. To shorten the time to start a federal job after discharge, this bill would allow service members to begin the federal employment process by acquiring veterans preference status prior to separation. This would facilitate a more seamless transition to civil service jobs at VA, or the many other federal agencies that would benefit from hiring our veterans.
• Translating Military Skills and Training: This bill will also require the Department of Labor to take a hard look at how to translate military skills and training to civilian sector jobs, and will work to make it easier to get the licenses and certification our veterans need.
• Veterans Tax Credits: The VOW to Hire Heroes Act provides tax credits for hiring veterans and disabled veterans who are out of work. “

It’s that final Veterans Tax Credits that set DeMint’s pants on fire.
 
Senateloon Jim DeMint, One Is a Lonely Number. Even I, a longtime non-supporter of DeMint, was surprised by his vote against this bill, the single vote that stole unanimity from the Senate (of the 95 voting Senators).  Here’s what he had to say about the Vow to Hire Heroes bill: “We’re pandering to different political groups with programs that have proven to be ineffective. All Americans deserve the same opportunity to get hired. I cannot support this tax credit because I do not believe the government should privilege one American over another when it comes to work.”

Let’s hope the Senate doesn’t bring up a vote on a bill called “Tax Shelters for Corporate Golden Toilet Seats,” or “More Handouts for Citizens Who Lost More Than Two Hundred Million Dollars in Fiscal Year 2010.” Mr. DeMint would surely again oppose federal intervention like that as well, would he not?

GOP/Tea Party — Heavily Employed in Lying About Unemployment

October 23, 2011

From our nemeses in the GOP, we constantly hear how the Obama administration has during its tenure failed to create any jobs whatever. Of course, that’s patently false. This, in turn, proves to already-made-up GOP and Tea Party minds that Keynesian style stimulus does not work. Of course, that too is patently false. Are you sensing a pattern? . . .

Here’s a bit of outright lying beamed to us by FOX News, the GOP/TP’s media outlet, FOX Business’s Follow the Money, October 19, 2011:

BOLLING: All right, very quickly, guys. This is Harry Reid responding to Senator McConnell’s blame-game accusation.

REID : “The massive layoffs we’ve had in America today have, of course — are rooted in the last administration, and it’s very clear that private-sector jobs have been doing just fine. It’s the public-sector jobs where we’ve lost huge numbers.”

BOLLING: First of all, can I just point something out? Public-sector jobs have increased by almost 160,000 since President Obama took office. What is he talking about?

STEPHEN HAYES (Fox News contributor): Yeah, you’re going to hear that clip again and again and again.

Yeah, Mr. Hayes, we are going to hear that Harry Reid clip again and again because it is true. And yes, we will hear and see the Bolling/Hayes palaver again and again because it is bombastically false, even for FOX News.

It’s interestingly wrong. Here we have Bolling and Hayes, FOX minions, insisting that public sector jobs have grown since 2009. This is from the network who has been first in promoting the firing of nearly every public sector employee in the nation. It is false that Bolling and Hayes do not know the numbers – public sector jobs have fallen since early 2009, and precipitously so since the end of the Census uptick in Jan. to April 2010. Bolling and Hayes simply lie, as does nearly the entirety of the GOP/TP. And to lie so bluntly when they firstly, know the truth, and secondly, they also know that the public sector job statistics are available to anyone who can reach the DOL netsite. The GOP/TP through its concerted effort has destroyed more than 550,000+ public sector jobs primarily in those state governments they control. Witness Wisconsin, Ohio, Maine, and Florida.

An August 30, 2011, the Census Bureau’s Annual Survey of Public Employment and Payroll, provided its most up-to-date public sector data. It’s summary: “The 90,740 state and local governments across the country had 16.6 million full-time equivalent employees in 2010, 203,321 fewer than were employed in 2009, according to estimates released today by the U.S. Census Bureau. The majority of these employees, 9.0 million, worked in education, followed by those working in hospitals (986,471), police protection (946,196) and corrections (731,692).

Part-time state and local government employees numbered 4.8 million in 2010, a decrease of 27,567 from 2009.

Local governments — which include counties, cities, townships, special districts and school districts — accounted for 12.2 million full-time equivalent employees in 2010, while state governments employed 4.4 million. Both figures showed decreases from 2009. The number of full-time equivalent employees is equal to the number of full-time employees added to the number of hours worked by part-time employees divided by the standard number of hours for a full-time employee.”

“Public-sector jobs have increased by almost 160,000 since President Obama took office,” Mr. Bolling?

Lies About Private Sector Job Growth Also on the GOP/TP List. Also, Republicans nearly en masse claim the Obama administration has failed to produce private sector jobs. In fact, since the Recovery Act took effect, the private sector has gained 1.4 million jobs. So urgently do they want to bury Keynes and communitarianism forever, they are desperately trying to keep this fact hidden from the electorate. However, the Department of Labor’s official blog, (Work in Progress) produced a stinging rebuttal to GOP/TP claims with a chart produced by the Bureau of Labor Statistics Program.

Well, last week the Democratic Senate was halted in its attempt to pass a portion of the American Jobs Act, i.e., that portion that would help create hundreds of thousands of state and local jobs for teachers and first responders. Craven to the ‘enth degree, the GOP voted unanimously to prevent the measure from being voted on (joined, unfortunately, by Democrats John Tester (OH) and Bill Nelson (NE), and so-called Independent Joe Lieberman (CT)).  Here’s Reid’s response: “By asking millionaires to pay an extra half a penny on the dollar, this bill would have created jobs by keeping our communities safe and ensuring that our children continue to have access to a high-quality education. Unfortunately, protecting millionaires and defeating President Obama are more important to my Republican colleagues than creating jobs and getting our economy back on track. Democrats agree with the overwhelming majority of Americans that teachers and first responder jobs are worth defending, while lower taxes for millionaires and billionaires are not.”

Unfortunately, we suffer from GOP capture of legislative business.

Team Michele Bachmann Needs a Bullpen Upgrade

October 22, 2011

“If it’s been officially denied, then it’s probably true.” 
Pilger’s Law

Team Bachmann has lost its New Hampshire staff. This was confirmed with the following denial by team owner Michele Bachmann herself during an interview with Radio Iowa: “That is a shocking story to me, I don’t know where that came from. We have called staff in New Hampshire to find out where that came from and the staff have said that isn’t true, so I don’t know if this is just a bad story that’s being fed by a different candidate or campaign. I have no idea where this came from, but we’ve made calls and it’s certainly not true. This is what’s really wrong with politics, it’s highly irresponsible media to spread stories and print stories that aren’t verified and aren’t true and I think this is wrong.” Confirming the mass departure, new team manager, Keith Nahigian, said in a statement: “We have a great team in New Hampshire, and we have not been notified that anyone is leaving the campaign.”

Among the now confirmed team members departing were Nicole Yurek, Tom Lukacz, director of operations Matt LeDuc, and Jeff Chidester, a longtime friend and conservative talk-radio host, as first reported by ABC affiliate WMUR. Galling to owner Bachmann was news that Southern New Hampshire Field Director Caroline Gigler signed a one-year contract with archrival Team Perry of Texas. “Now we can get really ugly like ugly on a ape,” snickered Team Perry owner, Rick Perry.
 
In addition to a failure to pay staff salaries, and odd statements by Mrs. Bachmann, some departing staffers told the media that they were leaving because they were unconvinced that Team Bachmann was making a serious play to win their important series against their rivals in New Hampshire on an as yet unconfirmed date late this year or in January 2012. A good start soiled or foiled? Can the team be saved from furthering its losing streak?

And Now Warming Up for Team Bachmann Is . . . This is yet another defection among many defections from the troubled Team Bachmann since the start of the 2011-2012 season. After starting with a close and stunning win over Team Paul on its Iowa road trip, the team has suffered from batting slumps, poor pitching, and internal struggles, losing club manager Ed Rollins to possible stress-related illness in September. Closely thereafter, lost from the top echelons of the front office, were its top marketer, Ed Goeas, and its assistant manager David Polyansky. Goeas indicated he left because the team planned to focus primarily on winning the next Iowa series, rather than concentrating on the season as a whole. Also this month, top utility player Andy Parrish and team p.r. chief Doug Sachtleben have moved on, Sachtlebon to a minor league team in another sport.
 
It seems that Bachmann has an inability to control her team top brass and on-field crew. Like Team George Steinbrenner, she meddles too often. Like Team Obama she doesn’t meddle quite enough at times. This is especially true in her handling of the all important pitching squad. Often unorganized, pitchers seem to forget how and whether to throw a fastball on the outside corner or a change-up down low. Many have scored against the team on wild pitches and passed balls.
 
One can’t blame the catchers here. The blame goes higher up. With overconfidence following the initial Iowa victory Bachmann, in an effort to save money, severely cut her bullpen staff, including catchers, coaches, and middle inning relievers. She hoped to use the savings later in the year to acquire players in trade from Team Cain, Team Gingrich, and, in addition, to purchase Team Huntsman outright.

Perhaps it’s time to reconstitute her bullpen. Recall what Bob Lemon once said, “The two most important things in life are good friends and a strong bullpen.” Get back in the game Mrs. Bachmann. Beef up that bullpen. If the past is prologue, you’re gonna need it well stocked.

Occupy Wall Street -What Do Wall Streeters REALLY Think? If Anything, They Say People Should Show Some Gratitude

October 15, 2011

Occupy them, too!

Wall Streeters have much to say about the Wall Street Occupiers. Mostly they are dismissive, hostile, amused. Some, though, in their public statements, have been less so, some have seemingly taken the high ground, praising the First Amendment, and people in general. Today’s New York Times article, In Private, Wall St. Bankers Dismiss Protesters as Unsophisticated lifts the veil a bit, and makes interesting reading. Some highly placed Wall Street execs. view the OWS movement favorably, for example, Citigroup’s chief executive, Vikram S. Pandit.

Somehow, though, don’t you think the views below represent the majority . . . ?

By NELSON D. SCHWARTZ and ERIC DASH

In Private, Wall St. Bankers Dismiss Protesters as Unsophisticated Publicly, bankers say they understand the anger at Wall Street — but believe they are misunderstood by the protesters camped on their doorstep. But when they speak privately, it is often a different story.

“Most people view it as a ragtag group looking for sex, drugs and rock ’n’ roll,” said one top hedge fund manager.“It’s not a middle-class uprising,” adds another veteran bank executive. “It’s fringe groups. It’s people who have the time to do this.”. . . Some on Wall Street viewed the protesters with disdain, and a degree of caution, as hundreds marched through the financial district on Friday. Others say they feel their pain, but are befuddled about what they are supposed to do to ease it. A few even feel personally attacked, and say the Occupy Wall Street protesters who have been in Zuccotti Park for weeks are just bitter about their own economic fate and looking for an easy target. If anything, they say, people should show some gratitude.”

As For The “Gratitude” Thing . . .

Remember. Gratitude!
Van Gogh, Debtors Prison

GOP Congressional Leadership Letter to Ben Bernanke, as Subtle as a Baby Ruth in a Federal Reserve Punch Bowl

September 21, 2011

Why did the GOP congressional leadership send a snail-mail missive to Federal Reserve Chairman Ben Bernanke? Haven’t they gotten the news about “e-mail”? Do they need pen pals that badly? Do they need a loan? Or what?

Imagine, these legendary GOP lunkheads suddenly looking for “ample data,” “quantifiable benefits,” “measurable outcomes,” and . . . evidence!  Characteristically, in their letter below, they offer none of those to back up their assertions about the effects of Fed policies. They offer nothing but naked – and uncharacteristically weaselly – claims that “the Federal Reserve’s actions have likely led to more fluctuations and uncertainty in our already weak economy,” and “further intervention by the Federal Reserve could exacerbate current problems or further harm the U.S. economy.” 

It’s not surprising this Gang of No would “instruct” the Fed this way. They speak for the bigger gang of GOP/TP Fed haters. In good times and in bad times they detest the Federal Reserve. Now, however, having consciously slowed the economy by blocking any meaningful – and temporary – fiscal stimulus, they must kneecap the Fed. And now. Why? To cut off monetary stimulus as well. They cannot win the White House in 2012 without a substantially weakening economy between now and November 2012. Moreover, the blatant, if hamfistedly muted, threat against Bernanke and the Fed inherent in their letter is as subtle as a Hustler billboard in Vatican Square.

One wonders, are they playing chicken with a depression? Are they actively courting one for political purposes alone? It seems unlikely to seek economic catastrophe, but, recall, they are batsh*t crazy. We ought never underestimate batsh*t, or crazy. Here’s their cris de coeur, dated September 19, 2011:

“Dear Chairman Bernanke,

It is our understanding that the Board Members of the Federal Reserve will meet later this week to consider additional monetary stimulus proposals. We write to express our reservations about any such measures. Respectfully, we submit that the board should resist further extraordinary intervention in the U.S. economy, particularly without a clear articulation of the goals of such a policy, direction for success, ample data proving a case for economic action and quantifiable benefits to the American people.

It is not clear that the recent round of quantitative easing undertaken by the Federal Reserve has facilitated economic growth or reduced the unemployment rate. To the contrary, there has been significant concern expressed by Federal Reserve Board Members, academics, business leaders, Members of Congress and the public. Although the goal of quantitative easing was, in part, to stabilize the price level against deflationary fears, the Federal Reserve’s actions have likely led to more fluctuations and uncertainty in our already weak economy.

We have serious concerns that further intervention by the Federal Reserve could exacerbate current problems or further harm the U.S. economy. Such steps may erode the already weakened U.S. dollar or promote more borrowing by overleveraged consumers. To date, we have seen no evidence that further monetary stimulus will create jobs or provide a sustainable path towards economic recovery.

Ultimately, the American economy is driven by the confidence of consumers and investors and the innovations of its workers. The American people have reason to be skeptical of the Federal Reserve vastly increasing its role in the economy if measurable outcomes cannot be demonstrated. We respectfully request that a copy of this letter be shared with each Member of the Board.

Sincerely, Sen. Mitch McConnell, Rep. John Boehner, Sen. Jon Kyl, Rep. Eric Cantor”