Government expected to suspend movement of cattle as fears mount over contaminated straw in region hit by nuclear crisis Japan is poised to impose a ban on shipments of cattle from Fukushima prefecture – the scene of its worst ever nuclear crisis – after discovering that meat containing abnormally high levels of radioactive caesium had been processed and consumed. The cows had been fed on rice straw containing high levels of the radioactive isotope that was harvested after the 11 March tsunami triggered a core meltdown at Fukushima Daiichi nuclear power plant. While officials said consuming the meat did not present an immediate threat to health, the incident has highlighted concerns over food safety in the wake of the crisis, which has caused contamination in milk, tea, leaf vegetables, fish and water. The government is expected to announce the suspension of cattle shipments from Fukushima, and possibly other areas nearby, on Tuesday. “The most likely outcome is that we will ban beef shipments,” Goshi Hosono, a special adviser to the prime minister on the nuclear clean-up, said on a TV programme. “We are discussing the matter along these lines. We have to ensure food safety.” Authorities in the prefecture confirmed that 84 head of cattle from five affected farms had been shipped to eight locations, including Tokyo and Osaka, between late March and mid-July. Local media reported that the contamination risk could be more widespread, affecting farms 60 miles from the power plant. Kyodo news agency said it had calculated that as many as 143 cows sent to all but 10 of Japan’s 47 prefectures may have been exposed to radiation via feed. “We may need to increase our response by checking the distribution of contaminated straw,” said Kohei Otsuka, the senior vice-minister for health. “We are currently considering Fukushima prefecture, but we may have to consider the need for a further response by checking the distribution of contaminated straw.” Retailers said it was highly likely that some of the contaminated beef had already been eaten. On Sunday, the Aeon chain of supermarkets said 319kg (703lb) of beef from a farm in Asakawa in Fukushima, had been sold at 14 of its stores in Tokyo and the surrounding area between late April and the middle of last month. Tests on straw at a farm in Koriyama city in Fukushima prefecture showed caesium levels as high as 500,000 becquerels per kg. Those readings are about 378 times the legal limit set by the government. Farmers in the area said they had not been told about a government warning, issued days after the nuclear accident, not to give their animals feed that had been stored outside. The Tokyo metropolitan government said on Sunday that high levels of radioactive caesium were detected in meat from a cow shipped to a packing plant in Tokyo from a farm in Koriyama. The meat contained radioactive cesium at measurements as high as 2,400 becquerels per kg, nearly five times the government-set safety limit of 500 becquerels per kg. Efforts to track down exposed cattle began earlier this month after meat from cows at a farm in Minamisoma, about 15 miles from Fukushima Daiichi, were found to have been fed with contaminated straw. Authorities in Tokyo said they had detected radiation levels in beef originating from the farm of up to 2,300 becquerels per kg. Government officials and some experts played down the risk to health. “This is not a number that would clearly cause abnormal effects on health even if the beef was eaten,” Ikuro Anzai, honorary professor of radiation protection at Ritsumeikan University, told Kyodo. But he added: “It would be better to refrain from eating it until the situation becomes clear.” Japan disaster Japan Farming Food Agriculture Justin McCurry guardian.co.uk
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• Expobank to be sold in decision to exit retail banking in Russia • Move part of Diamond’s strategy to sell underperforming units • Sale expected to make a tenth of 2008 £373m purchase price Barclays is expected to record a multimillion-pound loss as it prepares to draw up a shortlist of potential bidders for the Expobank business it bought in Russia just before the 2008 banking crisis. Bob Diamond, the Barclays boss, was quick to identify Expobank as a business that needed to be disposed of after he took the helm late last year and announced the decision to pull out of retail and commercial banking in Russia in February. A sales process is now under way and sources believe that Barclays will have to sell the operation for as little as a tenth of the £373m that it paid for the 32-branch operation in March 2008 . Among those thought to be potential bidders are the local banks Vostochny Express and the largest Kazakh bank, Kazkommertsbank. High-street banking in Russia – rather than investment banking – has proved difficult for UK banks to crack. HSBC sold its retail business to Citi of the US in June barely two years after trying to break into the market. Foreign entrants face many state-owned competitors – particularly Sberbank and VTB – which exacerbates the problems they face in winning business. Citi is one of the foreign banks to have managed to break into the market. When Barclays, which refused to comment, announced the Expo deal, it had not expected the acquisition to start boosting its overall earnings until 2011. Focused on Moscow, St Petersburg and other parts of western Russia, Expobank was owned by Petropavlovsk Finance until Barclays stepped in. The acquisition was led by Frits Seegers, who was head of global and retail banking for Barclays but has since left the bank. At the time, Seegers had described the bank as “well run” and a local expert, Nikolai Tsekhomsky, former VTB Group finance director, was brought in to speed up growth in the business, which employs about 1,500 people. While Diamond will be keen to demonstrate that he is executing his strategy to pull out of underperforming businesses when he presents the bank’s interim results on 2 August, it is unlikely that he will be able to name a buyer for the operation by then. He told the City that he had embarked on a “rigorous and continuous review” of the group’s business as he attempts to improve the return to shareholders despite being required to hold more capital to support its existing operations. The bank’s return on equity was 7.3% in 2010, while Diamond wants it to hit 13% to 15%. The Barclays investment banking arm, Barclays Capital, will continue to look for business in Russia from big companies and multinationals as well as governments. HSBC is also planning to retain an investment banking presence in the country. Barclays Banking Russia Europe Jill Treanor guardian.co.uk
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Crunch week for euro begins with market reaction to European bank stress tests Eurozone governments need to improve their crisis-management skills and learn to speak with one voice, the head of the European Central Bank said on Sunday at the start of what promises to be a crunch week for the single currency. As financial markets deliver their verdict on the results of controversial stress tests on European banks and political leaders prepare for a crunch summit to discuss the single currency crisis on Thursday, the ECB president, Jean-Claude Trichet, said governments needed to improve “verbal discipline”. “There is an absolute need to improve ‘verbal discipline’. The governments need to speak with one voice on such complex and sensitive issues as the crisis,” Trichet said. In an interview with Financial Times Deutschland conducted last week, he reiterated that the ECB would not accept bonds from a nation that defaults as collateral for fear of triggering a “Lehmans-style” event in the financial system. “If a country defaults, we can no longer accept as normal eligible collateral defaulted bonds issued by the government of that country,” he said. “Because … this would impair our ability to be an anchor of confidence and stability. “The governments would then have to step in themselves to put things right … the governments would have to take care the euro system is presented with collateral that it could accept.” But he did not elaborate on how governments could secure liquidity in case of default. In what Trichet might regard as a lack of verbal discipline, the Irish deputy prime minister said on Sunday that he would like to see the eurozone issue common bonds to soak up the bloc’s debt. “It is an option I favour. It is one of a series of options that have to be looked at,” Eamon Gilmore told Irish state broadcaster RTÉ. Eurozone leaders will meet in Brussels on Thursday to discuss how to halt the threat of contagion to Italy and Spain from Greece’s rumbling debt crisis. Eurozone finance ministers agreed last week to make the European Financial Stability Facility, the eurozone’s multibillion-euro rescue fund, more flexible in order to buy up debt, but details have yet to be worked out and governments, the ECB and the commission in Brussels are at loggerheads as to how to resolve the problem. But Trichet said Europe could surmount its divisions. “The Europeans can manage the issue. It is not a question of technique. It is a question of will and determination.” He said the euro was not in danger and remains “a highly credible currency”. The markets may deliver a more hostile view when European traders react to the stress test results, which were published after markets closed on Friday. Although eight failed the tests and will require a €2.5bn (£2.2bn) capital boost, some analysts said that showed the conditions had not been tough enough. Credit Suisse said: “We previously estimated 10-15 banks as the minimum threshold for credibility. A total recapitalisation requirement of €2.5bn does not effectively test the bailout system .” European debt crisis European banks Europe Euro Currencies Euro European Union Economics European Central Bank Banking guardian.co.uk
Continue reading …Lindsey Graham compares America to Greece which is why he shouldn’t be taken seriously
July 17, 2011 No Comment
Click here to view this media Sen. Lindsey Graham took a lot of heat from the Tea Party movement so he’s been trying to curry their favor ever since. He used to be considered part of John McCain’s “Maverick posse”, but since McCain denied that he ever was a maverick so he could bow down to the crazed right, it makes him look ridiculous. On the debt ceiling debate, Graham had an interesting conversation with Candy Crowley, who clearly is in a Grand Bargain kinda mood. Goober Graham is parroting the new Republican talking point of “Cut, Cap and Balance” (also known as the Ryan Plan 2.0 ) and had the audacity to compare us to Greece. Wow, is there any fear-mongering in those words ? Appearing on CNN’s “State of the Union” Sunday, Graham said that Republicans would raise the debt ceiling only in exchange for the requirements in the “Cut, Cap and Balance” legislation the House is expected to vote this week. That bill would cut government spending to 2008 levels, cap sending for the next decade and require the passage of a balanced budget constitutional amendment. “For those three things, we’ll raise the debt limit,” Graham said. “That will be the Republican position in the House almost unanimously; I think it will be the Republican position in the Senate.” [..] “What is calamitous is the path we’re on as a nation,” he said. “We’re becoming Greece.” “Greece” is the new fear-mongering catch phrase much like ‘Saddam Hussein” was in 2002/3. The same scare tactics that lied to Americans and brought us into an unjust war with Iraq that Graham had no problems with paying for. The Balanced Budget Amendment is a joke , as every one knows. Graham lied to Crowley when he said that since he’s been in DC since 1995, it’s obvious to him that both parties are incapable of balancing the budget so we need a constitutional amendment. Crowley should have then reminded the big Goober that in 2000, when he was in Congress under Bill Clinton, the US had a surplus in our federal budget and that George Bush took the cash, gave it to his pals and led us into massive debt soon afterwards. But getting back to his Greece reference, here’s the Political Animal: New rule: every time a confused Republican lawmakers compare the United States’ fiscal conditions to that of Greece, an angel loses its wings. Look, the very idea is just crazy. The U.S. has extremely low interest rates and foreign investors are happy to loan us money; Greece has extremely high interest rates and no one is eager to loan the country money. The U.S. has our own currency; Greece has the Euro. We have a great credit rating (for now); Greece as an awful credit rating. We have a manageable debt; Greece has a debt crisis. We’re a large country with an enormous economy; Greece is a small country with a small economy. We have one of the world’s most stable systems of government (at least until six months ago); Greece’s government structure is a little shaky. For an elected American senator — and media darling — to tell a national television audience that the United States is “becoming Greece” is a clear signal: Lindsey Graham is not to be taken seriously on these issues. If Graham sincerely believes his own rhetoric, he has no idea what he’s talking about. If Graham is just playing some kind of cynical game, he’s a hack.
Continue reading …Lindsey Graham compares America to Greece which is why he shouldn’t be taken seriously
July 17, 2011 No CommentClick here to view this media Sen. Lindsey Graham took a lot of heat from the Tea Party movement so he’s been trying to curry their favor ever since. He used to be considered part of John McCain’s “Maverick posse”, but since McCain denied that he ever was a maverick so he could bow down to the crazed right, it makes him look ridiculous. On the debt ceiling debate, Graham had an interesting conversation with Candy Crowley, who clearly is in a Grand Bargain kinda mood. Goober Graham is parroting the new Republican talking point of “Cut, Cap and Balance” (also known as the Ryan Plan 2.0 ) and had the audacity to compare us to Greece. Wow, is there any fear-mongering in those words ? Appearing on CNN’s “State of the Union” Sunday, Graham said that Republicans would raise the debt ceiling only in exchange for the requirements in the “Cut, Cap and Balance” legislation the House is expected to vote this week. That bill would cut government spending to 2008 levels, cap sending for the next decade and require the passage of a balanced budget constitutional amendment. “For those three things, we’ll raise the debt limit,” Graham said. “That will be the Republican position in the House almost unanimously; I think it will be the Republican position in the Senate.” [..] “What is calamitous is the path we’re on as a nation,” he said. “We’re becoming Greece.” “Greece” is the new fear-mongering catch phrase much like ‘Saddam Hussein” was in 2002/3. The same scare tactics that lied to Americans and brought us into an unjust war with Iraq that Graham had no problems with paying for. The Balanced Budget Amendment is a joke , as every one knows. Graham lied to Crowley when he said that since he’s been in DC since 1995, it’s obvious to him that both parties are incapable of balancing the budget so we need a constitutional amendment. Crowley should have then reminded the big Goober that in 2000, when he was in Congress under Bill Clinton, the US had a surplus in our federal budget and that George Bush took the cash, gave it to his pals and led us into massive debt soon afterwards. But getting back to his Greece reference, here’s the Political Animal: New rule: every time a confused Republican lawmakers compare the United States’ fiscal conditions to that of Greece, an angel loses its wings. Look, the very idea is just crazy. The U.S. has extremely low interest rates and foreign investors are happy to loan us money; Greece has extremely high interest rates and no one is eager to loan the country money. The U.S. has our own currency; Greece has the Euro. We have a great credit rating (for now); Greece as an awful credit rating. We have a manageable debt; Greece has a debt crisis. We’re a large country with an enormous economy; Greece is a small country with a small economy. We have one of the world’s most stable systems of government (at least until six months ago); Greece’s government structure is a little shaky. For an elected American senator — and media darling — to tell a national television audience that the United States is “becoming Greece” is a clear signal: Lindsey Graham is not to be taken seriously on these issues. If Graham sincerely believes his own rhetoric, he has no idea what he’s talking about. If Graham is just playing some kind of cynical game, he’s a hack.
Continue reading …Japan 2-2 USA (Japan win 3-1 on penalties) | Women’s World Cup final match report
July 17, 2011 No Comment
Japan 2-2 USA aet; Japan win 3-1 on penalties Japan became the first Asian nation to win the Women’s World Cup, beating USA in a penalty shoot-out. The USA missed their first three penalties, and Japan were crowned world champions when Saki Kumagai slotted her spot-kick high past the USA goalkeeper, Hope Solo. It was a sad end for the USA, who were just three minutes away from becoming the first country to lift the cup three times, only for Japan to equalise for the second time in a thrilling final. The 32-year-old Japan captain, Homare Sawa, flicked a corner through a jumble of players and past Solo in the 117th minute to take the contest to penalties. Japan had scored late in normal time to force extra time. “We ran and ran – we were exhausted but we kept running,” said Sawa, the top scorer in the tournament with five goals. “Not one of the players gave up,” the coach, Norio Sasaki, said. “The penalty kicks are always a 50-50% chance.” Japan’s goalkeeper, Ayumi Kaihori, did more than her part, saving the first penalty from Shannon Boxx with a foot and swatting away the third kick from the substitute Tobin Heath. In between, Carli Lloyd skied her shot over the bar. The USA coach, Pia Sundhage, was perplexed and could not find an explanation for the penalty misses. “Sometimes in, sometimes out,” she said. Sawa received the trophy and immediately went into a huddle with her players, a multitude of hands cradling the trophy, a symbol of the nation’s teamwork. Japan were always driven by a greater purpose, hoping their success at the World Cup could provide some emotional relief for a nation still reeling from the effect of 11 March earthquake and tsunami. The team displayed a banner reading “To our Friends Around the World – Thank You for Your Support” before the final, and Sasaki inspired his players before the quarter-final by showing them pictures of the devastation. After dominating play from the start, the USA went ahead in the 69th minute when Megan Rapinoe’s long ball over the top sent Alex Morgan clear, and the substitute hustled past Saki Kumagai to slot home with angled shot from 15 yards. Against the run of play, Japan scored a goal out of nothing in the 81st minute when the American defenders Rachel Buehler and Alex Krieger failed to clear, allowing Japan’s Aya Miyama to sneak in and slot home from close range. The USA regained the lead in the 104th minute when Morgan sent a pinpoint cross to the towering Wambach. The forward did not even have to get off the ground to head past the goalkeeper, Ayumi Kaihori, from six yards. The goal gave Wambach four for the tournament, and it looked good enough for the title, until Japan and their brilliant captain provided a late twist that was hard for the USA players to take and they then faltered in the penalty shoot-out. “It’s obviously heartbreaking,” Wambach said. “Japan played well, they never gave up.” Women’s World Cup 2011 Japan USA Women’s football guardian.co.uk
Continue reading …Japan 2-2 USA (Japan win 3-1 on penalties) | Women’s World Cup final match report
July 17, 2011 No CommentJapan 2-2 USA aet; Japan win 3-1 on penalties Japan became the first Asian nation to win the Women’s World Cup, beating USA in a penalty shoot-out. The USA missed their first three penalties, and Japan were crowned world champions when Saki Kumagai slotted her spot-kick high past the USA goalkeeper, Hope Solo. It was a sad end for the USA, who were just three minutes away from becoming the first country to lift the cup three times, only for Japan to equalise for the second time in a thrilling final. The 32-year-old Japan captain, Homare Sawa, flicked a corner through a jumble of players and past Solo in the 117th minute to take the contest to penalties. Japan had scored late in normal time to force extra time. “We ran and ran – we were exhausted but we kept running,” said Sawa, the top scorer in the tournament with five goals. “Not one of the players gave up,” the coach, Norio Sasaki, said. “The penalty kicks are always a 50-50% chance.” Japan’s goalkeeper, Ayumi Kaihori, did more than her part, saving the first penalty from Shannon Boxx with a foot and swatting away the third kick from the substitute Tobin Heath. In between, Carli Lloyd skied her shot over the bar. The USA coach, Pia Sundhage, was perplexed and could not find an explanation for the penalty misses. “Sometimes in, sometimes out,” she said. Sawa received the trophy and immediately went into a huddle with her players, a multitude of hands cradling the trophy, a symbol of the nation’s teamwork. Japan were always driven by a greater purpose, hoping their success at the World Cup could provide some emotional relief for a nation still reeling from the effect of 11 March earthquake and tsunami. The team displayed a banner reading “To our Friends Around the World – Thank You for Your Support” before the final, and Sasaki inspired his players before the quarter-final by showing them pictures of the devastation. After dominating play from the start, the USA went ahead in the 69th minute when Megan Rapinoe’s long ball over the top sent Alex Morgan clear, and the substitute hustled past Saki Kumagai to slot home with angled shot from 15 yards. Against the run of play, Japan scored a goal out of nothing in the 81st minute when the American defenders Rachel Buehler and Alex Krieger failed to clear, allowing Japan’s Aya Miyama to sneak in and slot home from close range. The USA regained the lead in the 104th minute when Morgan sent a pinpoint cross to the towering Wambach. The forward did not even have to get off the ground to head past the goalkeeper, Ayumi Kaihori, from six yards. The goal gave Wambach four for the tournament, and it looked good enough for the title, until Japan and their brilliant captain provided a late twist that was hard for the USA players to take and they then faltered in the penalty shoot-out. “It’s obviously heartbreaking,” Wambach said. “Japan played well, they never gave up.” Women’s World Cup 2011 Japan USA Women’s football guardian.co.uk
Continue reading …Army to shrink to smallest size since Boer war while reservists’ role bolstered
July 17, 2011 No Comment
• Regulars to fall from 100,000 to 84,000 after 2014 • £1.5bn earmarked to beef up reserves and fund equipment • Money to cover 14 delayed Chinooks and three spy planes The army will be reduced to its smallest size since the Boer war under plans to be announced by Liam Fox, the defence secretary, on Monday. It will shrink from more than 100,000 regulars to about 84,000, as reforms will make reserves better trained and better paid, officials said. The shake-up will take place after British troops give up their combat role in Afghanistan in 2014. The Treasury has agreed to bolster the defence budget, with £1.5bn earmarked to help pay for beefed-up reserves and more funding for military equipment. The money will pay for 14 delayed Chinook helicopters due to come into service after 2014, three new US Rivet spy planes, and upgrades to the army’s Warrior armoured vehicles. A review has proposed that the Territorial Army should retain its current strength of 36,000, but about 5,000 reservists should be trained for frontline operations. Reservists would also contribute more to “homeland security” work, dealing with the aftermath of terrorist attacks and civil emergencies. The review was conducted by General Sir Nicholas Houghton, vice-chief of the defence staff, Julian Brazier, Conservative MP and former TA officer, and Lt Gen Graeme Lamb, former head of the UK’s special forces. It is understood their proposals have been accepted by Fox. The defence secretary will also announce specialist roles for the reserves, including cyber security, intelligence, foreign language skills and medical services. According to officials, the foreword to the reserves review says: “Our commission has concluded that the UK’s reserve forces are in need of significant revitalisation and reorientation. Although continuing to do a remarkable job in many areas … the wider picture is one of relative neglect and decline”. Britain deploys proportionately fewer reservists than other Nato countries – below 20%, compared with more than 50% for the US, 44% in Canada, and 37% in Australia. Fox is expected to announce that RAF Leuchars is to close, to house soldiers leaving Germany between now and 2020. The RAF will left with one base in Scotland — RAF Lossiemouth. The decision to transfer the two RAF Typhoon squadrons from Leuchars to Lossiemouth is understood to have been made only last Friday, though there has been speculation for months. The military already faces other major plans to change its structure. Under reforms to the Ministry of Defence published last month, senior members of the military will lose their jobs if they let costs get out of control and fail to manage budgets. The heads of the army, Royal Navy and RAF will be held accountable as never before, and responsible for cutting the number of officers. All three services have become overloaded with top brass, according to the report by Lord Levene, chairman of Lloyd’s of London. His proposals have been accepted by the coalition government. Levene noted that inter-service rivalry had added to the problems and he recommended the creation of a new joint forces command, headed by a high-ranked commander, as one way of breaking down the barriers between them. Fox last month sought to calm fears within the army over possible further cuts. Though it is committed to making tthousands of redundancies, there has been speculation that the army would be in line for more in order to prick a ballooning defence budget. “We have no plans to reduce the size of the army in this parliament,” Fox told MPs. Military Liam Fox Defence policy Richard Norton-Taylor guardian.co.uk
Continue reading …Army to shrink to smallest size since Boer war while reservists’ role bolstered
July 17, 2011 No Comment
• Regulars to fall from 100,000 to 84,000 after 2014 • £1.5bn earmarked to beef up reserves and fund equipment • Money to cover 14 delayed Chinooks and three spy planes The army will be reduced to its smallest size since the Boer war under plans to be announced by Liam Fox, the defence secretary, on Monday. It will shrink from more than 100,000 regulars to about 84,000, as reforms will make reserves better trained and better paid, officials said. The shake-up will take place after British troops give up their combat role in Afghanistan in 2014. The Treasury has agreed to bolster the defence budget, with £1.5bn earmarked to help pay for beefed-up reserves and more funding for military equipment. The money will pay for 14 delayed Chinook helicopters due to come into service after 2014, three new US Rivet spy planes, and upgrades to the army’s Warrior armoured vehicles. A review has proposed that the Territorial Army should retain its current strength of 36,000, but about 5,000 reservists should be trained for frontline operations. Reservists would also contribute more to “homeland security” work, dealing with the aftermath of terrorist attacks and civil emergencies. The review was conducted by General Sir Nicholas Houghton, vice-chief of the defence staff, Julian Brazier, Conservative MP and former TA officer, and Lt Gen Graeme Lamb, former head of the UK’s special forces. It is understood their proposals have been accepted by Fox. The defence secretary will also announce specialist roles for the reserves, including cyber security, intelligence, foreign language skills and medical services. According to officials, the foreword to the reserves review says: “Our commission has concluded that the UK’s reserve forces are in need of significant revitalisation and reorientation. Although continuing to do a remarkable job in many areas … the wider picture is one of relative neglect and decline”. Britain deploys proportionately fewer reservists than other Nato countries – below 20%, compared with more than 50% for the US, 44% in Canada, and 37% in Australia. Fox is expected to announce that RAF Leuchars is to close, to house soldiers leaving Germany between now and 2020. The RAF will left with one base in Scotland — RAF Lossiemouth. The decision to transfer the two RAF Typhoon squadrons from Leuchars to Lossiemouth is understood to have been made only last Friday, though there has been speculation for months. The military already faces other major plans to change its structure. Under reforms to the Ministry of Defence published last month, senior members of the military will lose their jobs if they let costs get out of control and fail to manage budgets. The heads of the army, Royal Navy and RAF will be held accountable as never before, and responsible for cutting the number of officers. All three services have become overloaded with top brass, according to the report by Lord Levene, chairman of Lloyd’s of London. His proposals have been accepted by the coalition government. Levene noted that inter-service rivalry had added to the problems and he recommended the creation of a new joint forces command, headed by a high-ranked commander, as one way of breaking down the barriers between them. Fox last month sought to calm fears within the army over possible further cuts. Though it is committed to making tthousands of redundancies, there has been speculation that the army would be in line for more in order to prick a ballooning defence budget. “We have no plans to reduce the size of the army in this parliament,” Fox told MPs. Military Liam Fox Defence policy Richard Norton-Taylor guardian.co.uk
Continue reading …Truthiness has never been more evident than watching what passes for journalism on the Sunday news shows. In this debt ceiling debate–which honestly, most Americans barely understand, much less care about when their own personal circumstances are so much worse than it has been–the media is so invested in not being honest as to where the blame lies that they dredge up the false equivalency of it being intransigence on both sides that is the problem. In a word: bullsh@# And David Gregory and all his colleagues know it. With a round table of Gov. John Kasich (in his 20th MTP appearance–WTF? Dear god, why?), Honeywell CEO David Cote, National Urban League President Marc Morial, Mesirow Financial Chief Economist Diane Swonk and CNBC host David Faber, David Gregory bemoans the lack of agreement between the two sides of the aisle, with everyone in agreement that defaulting on the debt ceiling would be a very bad thing for the country. But let’s be clear here: the ONLY reason that we have such sturm und drang over the debt ceiling debates is because THE REPUBLICANS WANT IT SO. They have voted (usually without incident and in the majority) to raise the debt ceiling 74 times since 1962, including 10 times in the past 10 years . Most of those ten votes have been basic, procedural votes that didn’t even register a blip amongst these alleged “fiscally responsible” (never have quotes connoted so much irony) partisan hacks . Since 1950, the federal government has taken action to increase the debt ceiling 86 times. 1 Now admittedly, some of these increases were much larger than others (and some were temporary), but that’s still 86 times Congress and the President worked together to increase the debt ceiling. Using my crude estimation of party control , the debt ceiling has been increased nearly as many times when Republicans had at least partial control over the federal government (21 times) as when Democrats were in control (25 times) (See the above table). Further, during this time period there were nearly twice as many increases under Republican presidents (57) as under Democratic Presidents (29). (Notably, the debt ceiling was increased 18 times while Ronald Reagan was president.) Additionally, while the Republican position on the debt ceiling is clearly being driven by its Tea Party wing — many of whom were only recently elected — there are a whole lot of Republicans currently serving in Congress who only a few years ago voted to increase the federal debt limit . The difference was they had a fellow Republican in the White House. This entire hostage situation with the full faith and credit of the country is ENTIRELY at the hands of the Republican Party. This is a vote they have made many, many times in the past. This is NOT and never has been an ideological divide. But damnit, the media isn’t going to let you blame the hostage takers for holding that gun to the country’s collective heads. That would only be giving in to reality and as we well know, reality has a liberal bias.
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