Showdown at the "Not-So-OK" Corral

 

 

Pu·gi·lism - The skill, practice, and sport of fighting, usually with the fists

Most of us Western lovers remember the famous tale of the OK Corral where Wyatt Earp and his deputies had the famous showdown with the outlaw gang known as the Cowboys. It was a fight which had been brewing for weeks, and neither side was going to back down. It ended up in a gunfight in a little know corral located in Tombstone, Arizona.

Well, it looks like we are coming up on yet another fight in a corral. Only this time the name of the corral should called the "Not-So-OK" Corral. This is going to be different than most other showdowns we have had in our capital city. Instead of just one issue, we have two issues back to back. In the past, the Republicans have always had a huge disadvantage as no matter what the Democrats did, utilizing the press as their staunch and loyal allies, they manage to blame everything on the Republicans. Unfortunately, many lower information voters agree with them. Match point - Democrats.

This time however, not so fast. It seems that the man with the paper thin resume is also wearing paper thin with more and more informed voters. His usual lines are not working anymore. New poll numbers have just been released, and they are devastating to the President. The Republicans in Congress still have lousy numbers, only this time they have company. People who have been financially stretched to the limit during this non-recovery, are sick and tired of the standard tax and spend philosophy. By a much larger margin, people are saying if the debt limit needs to be raised, corresponding "targeted" spending cuts need to be included. The status quo on debt limit increases will not play in Peoria anymore.

In addition, the President's numbers on health care keep flipping more and more upside down. As more empirical evidence becomes known about the side effects of this law, more people dislike it. What they know they don't like, and what they don't understand they don't like. Even the President's most ardent supporters agree that the sales job on this very complicated law has been miserable.

Coming up in just a few days is the new government fiscal year. As usual, we don't have a new budget, just a Continuing Resolution (CR). What is a CR? Using plain language, it is the chicken's way out. It is a way for both houses of Congress as well as the President to vote "present" on money matters. However, this time there is a twist - the House stripped out the funding for ObamaCare. The Senate did not. If there is no compromise, there will be no CR. No CR on October 1st, no government operations. Boo-ho.

To really muck up the recipe is the next showdown issue - the debt ceiling. Jack Loo, our new Treasury chief says by the middle of October we will be down to literally pennies in our bank. If we don't raise the debt ceiling, the "full, faith and confidence of the United States Government" will be at risk. One minor problem - a growing number of people have grown wise to this ruse. More and more are saying what I say right now - SO WHAT?

My feeling is very simple on this. If we need to shut down the machine for a while to perform corrective maintenance, that is a good thing. If the markets tank, who cares? Most of the gains have been QE crap, phony baloney anyhow. If we default and China won't lend us money for a while, good. Lets learn to be independent again. Live within our means. You know, like we try to teach our kids.

So as our attention is directed to the "Not-So-OK" Corral this week, bring it on. The blood feud has been going on way too long. Lets get it out of our system so we can run our country like a country again. There will be blood, there will be wounded, and hopefully after it is over, there will be healing.