Economy & Budget

Nancy Pelosi hits the mother lode with the supercommittee failure!

Don’t miss the excellent wrap-up piece by Bob Cusack in The Hill about
who won and who lost in the supercommittee superfiasco. Today I focus on
the mother of all winners, the person the sexist Herman Cain called
“princess,” who struck the mother lode of being a huge winner in this
deal: Nancy Pelosi and House Democrats. House Democrats were given
another great gift this week when Newt Gingrich launched another attack
on Social Security by reviving that tired GOP dog of private accounts.

Remember, Democrats won a major midterm election in a historically
Republican district over the issue of Medicare. Since then, the
Republicans have proposed even greater attacks on Medicare, in effect
suggesting Medicare be turned into a subsidy for insurance companies. Of
course, the collapsed Rick Perry once called Social Security a Ponzi

One major consequence of the collapse of the supercommittee is that Democrats will not be asked to accept cuts in Medicare, which probably would have been included in the deal. This gives the Medicare issue back to Democrats, who will have a field day criticizing Republicans for attacking Medicare and attacking Social Security, as Gingrich and Perry insist on doing.

Whatever one thinks of the supercommittee, Pelosi and House Democrats will pounce on the public reaction against incumbents in Congress, which hurts House Republican incumbents.

Pelosi and House Democrats will now have the whole election year to attack Republicans for sabotaging a budget deal because of their obsession with tax cuts for the wealthiest Americans. This may make Grover Norquist happy, but a huge majority of voters agrees with Democrats about ending tax cuts for the wealthiest.

Tax cuts for the wealthiest, attacking Social Security, attacking Medicare — this is how Republicans plan to campaign in 2012?

I wish I was back in my old days working for House Democratic leaders. There must have been secret sipping of champagne from my Democratic brothers and sisters, because Nancy Pelosi and House Democrats sure struck the mother lode of good fortune with this one!


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