Demystifying the Debt

Whiny Rep. Eric Cantor (R-VA) walked out of budget/debt negotiations this morning, which seems to be mainly a move to avoid any tax increase blood on his hands and kick it upstairs to golf buddies Boehner and Obama. Fine, whatever. Cantor is not the stupidest member of his caucus, but he is certainly not as bright as he thinks he is. He is, however, photogenic.

As for these deficit negotiations, it is taken as conventional wisdom now that somehow this most be solved before, say, lowering the unemployment rate. When you're feeling like caving yourself to the Fox News CW (FNCW, perhaps?), it will help to have this handy list, so beautifully assembled by Avenging Angel on DailyKos -- "10 Things the GOP Don't Want You to Know About the Debt":

1. Republican Leaders Agree U.S. Default Would Be a "Financial Disaster"
2. Ronald Reagan Tripled the National Debt
3. George W. Bush Doubled the National Debt
4. Republicans Voted Seven Times to Raise Debt Ceiling for President Bush
5. Federal Taxes Are Now at a 60 Year Low
6. Bush Tax Cuts Didn't Pay for Themselves or Spur "Job Creators"
7. Ryan Budget Delivers Another Tax Cut Windfall for Wealthy
8. Ryan Budget Will Require Raising Debt Ceiling - Repeatedly
9. Tax Cuts Drive the Next Decade of Debt
10. $3 Trillion Tab for Unfunded Wars Remains Unpaid

Ah, the sweet scent of truth, rather than truthiness. All those links are clickable to documentation and evidence, so enjoy.

And remember, support and vote for any candidate who promises, convincingly, to tax the rich.

It's about time again.