The Phony Patriots of “Fix the Debt”

The NYT has a terrific take-down on the front page today* of that “Fix the Debt” group.  They’re not high-minded at all, just a front for high-value tax benefits and defense contracts.

It’s a bunch of lobbyists trying to protect stuff like the “carried interest” loophole for private equity, tax breaks for multinationals, military spending, etc.  They want to fix the debt on the backs of others while keeping their goodies.

For example, their core principles argue that we should cut entitlements dramatically, but don’t say a word about cutting even a penny from the defense budget.

The story links “Fix the Debt” leaders to specific companies:  Sam Nunn to General Electric;  Erskine Bowles to Morgan Stanley; Judd Gregg to Goldman Sachs, Honeywell, and International Exchange.

The article is sickening, but a must read.  They pretend to be about patriotism, but really it’s all about their perks.

* “Public Goals, Private Interests in Debt Campaign,” Nicholas Confessore

Mitt Testified in Stemberg Divorce That Staples Worth Very Little

TMZ is reporting that Mitt’s testimony in the Tom and Maureen Stemberg divorce was that Staples was worth virtually nothing and that Tom was a dreamer.

Then after the divorce, Mitt and Tom went to the giant vampire squid Goldman Sachs and made a fortune.  So it looks as if Tom’s dream came true, but Maureen’s didn’t.

Newt Says Mitt Personally Profits from Florida Foreclosures

Apparently Mitt is one of the tentacles on that giant vampire squid we all know and love as Goldman Sachs.  Newt on CNBC today trying to tie Mitt’s great wealth to Floridians’ great suffering:

“He [Mitt] owns stock in a Goldman Sachs subsidiary which specifically is foreclosing on people in Florida. … I’d like to know from Governor Romney how many people [have] been foreclosed on by the places he’s made investments and how much money has he made personally out of the foreclosures in Florida? … But let’s find out tonight, how many people have been foreclosed on by the Goldman Sachs investment that he made,  how much money did he make out of Florida foreclosures?”  Emphasis added.


Quote of the Day

Newt Gingrich — “I am running for President to represent you, not to represent the Washington lobbyists, not to represent Goldman Sachs, not to represent the people who have been ruining this country, and I need your help.”

So basically he’s telling us that leopards change their spots.  He’s telling us to ignore his entire professional life up until now.  Pay no attention to that $55 million he made in the last decade as a historian, consultant, lobbyist.

Newtie the adulterer is now a devout Catholic, and Newtie the prince of K Street  is now a populist.  What next, sex change surgery?

I would laugh, except that this is my country and my son’s future.