President Obama’s midday speech did not have its desired, immediate effect of calming the markets. They tanked anyway. Words will no longer suffice to end the skittishness of the markets. But, the president did say something that was consequential yesterday. He announced that in the next few weeks, he would present a proposal to address the next round of budget negotiations, mandated by last week’s agreement to raise the debt ceiling.
E. J. Dionne is almost always spot-on. And, in this morning's column, E. J. looks at the debt ceiling, credit downgrade mess with his usual incisiveness. But, I especially liked the quotes at the end of the piece from a member of the UK's Conservative Party:
The "cut government at all costs" mantra that brought the government to a standstill, risked the natioln's first ever default and achieved the nation's first-ever credit downgrade is not confined to the banks of the Potomac. Tom Allio, longtime social action director for the Diocese of Cleveland, has this post up about how, whether it is in DC or Ohio, the mantra conflicts with traditional Catholic teaching.
Governor Rick Perry has had his prayer rally at a Reliant Stadium in downtown Houston. I will leave it to the reader to decide whether it is an auspicious sign or not that a typical football game at that same stadium attracts more than 50,000 more people than came to the governor’s prayerfest. Even in Texas, size is not the most important criterion of judgment in religious matters.
Many people were disturbed by the ministers Gov. Perry tasked with organizing the event. To be clear, the charge is not one of guilt by association. That McCarthyite tactic entails turning a casual association into a significant one. In this instance, Gov. Perry could have called the American Family Association and the Rev. John Hagee and others to put the event together. Hagee, you will recall, said such nasty things about Catholicism and about God’s involvement in the Holocaust, that Sen. John McCain declined the reverend’s endorsement in 2008.
The Christian Science Monitor has an article about why the Bible should be taught as literature in our public schools to enable students to "win" the future, whatever that means.
Hey, I am all for cultural literacy, but this argument strikes me as akin to those Supreme Court rulings which say it is okay to have a cross on public land because the cross has become a generic or meaningless symbol, which is to say, no symbol at all.
I would much prefer that the Bible NOT be taught as literature in public schools. It was, after all, not written as literature. It was written, and made part of a canon, because it was inspired. Kierkegaard warned about such efforts to take the heart out of religion and compared it to praising St. Paul for his skill as a maker of tents.
Last time I checked, David Frum was not a Democrat, not a leftie, not a friend of the administration. So his calling out conservative Republicans for their attacks on Obama's economic policies is especially significant. He writes:
Funny, I have not heard the president called "the biggest tax cutter in history" on Fox News.
The economy added 117,000 new jobs in July, reducing the unemployment rate to a still horrendous 9.1 percent. The figures exceeded analysts' expectations, which may be the needed tonic to the fear of a second recession that has caused the stock market to plummet in the past few days.
It should be noted that the private sector accounted for 154,000 new jobs last month, across a broad range of economc sectors, but these gains were hampered by a loss of 37,000 government jobs. Remember that fact the next time you hear someone say that cutting government spending is the way to promote job growth.
The USCCB has issued its report on the recently concluded debt ceiling and budget negotiations. The document does not mince words, opening with this verdict: “This debate demonstrated the partisan, ideological, and dysfunctional polarization that dominates Washington. It wasn’t pretty, and it isn’t over. While the crisis of default was averted, for advocates of poor and vulnerable people, this debate was disappointing, ominous, and just a beginning.”
The Holy Father met with a group of pilgrims from Traunstein, Bavaria last week and he offered these words:
Even then, though, we can remain joyous and human -- but only if heaven is open for us, only if we can be strengthened in the certainty that God loves us in full, that God is good and, through this, in the certainty that it’s good to be human....
Harold Meyerson in this morning's Washington Post examines the reasons why President Obama will not get a primary challenger from his base, something that doomed previous re-election efforts by Lyndon Johnson, Jimmy Carter, and George H.W. Bush. He left one thing out, and it is something liberals need to ponder before they carp about the President: health care reform. Here is a signature achievement, one that had eluded previous presidents including Truman, Johnson, Nixon and Clinton. By 2014, unless the Democrats lose the White House, health care will be a right in this country. That is no small achievement. I wish Obama had been better at negotiating with the republicans. I wish he had pushed through immigration reform. I wish he had been able to get card check through Congress. But, he succeeded in making health care a right, and the complainers from the leftwing bleachers should remember that.