By Carl Davidson
Beaver County Blue

Leave it to the New York Times to look for a silver lining in the dark cloud of a Wall St-right wing victory on ‘The Deal’ over the phony budget crisis.

“Democrats can look forward to the expiration of the Bush tax cuts next year,” says their Aug 1, 2011 editorial, “and will have to make the case in the 2012 elections for new lawmakers who will undo the damage.”

In other words, the bondholders will be paid on time, the markets will be stabilized for a short time, and matters will continue to get worse for the jobless and the rest of us. Tighten your belt another notch and get used to it. As for 2012, you have ‘nowhere to go’, so don’t expect much.

Continue reading The Real Crisis: When Everything Decent Is ‘Off the Table’ →