No sooner had the ink dried on President Obama's latest assault on our U.S. Federal Constitution, than word came down from the Congressional Budget Office that the whole agreement to extend the debt ceiling and impose equal cuts on Federal spending, was based on a thoroughly false assumption. It seems that the CBO scoring on the debt ceiling/budget cuts deal was based on the premise that the U.S. economy, measured in GDP, would grow at a rate of 2.8 percent for 2011. For the first six months of the year, GDP growth has been an anemic 0.8 percent, with budget cuts assured to keep those numbers in the gutter for the rest of the year and beyond. For every fall of 1 percent of GDP from the projections, you have to add $750 billion in added deficit, due mostly to revenue losses from the listless economy. If the 0.8 percent figure holds, we will have an added $1.5 trillion in debt or something close to that by yearend. The whole deal is a great big fraud, that grabbed an enormous amount of media attention for much of July.
Now, we also have a second major assault on fundamentals of the U.S. Constitution. First, we had the Libya war. Whether you favor the ouster of Qaddafi or not, the fact is that the President violated Article I, Section 8 of the Constitution, which gives the U.S. Congress the sole authority to declare war. Leave the War Powers Resolution aside. This is the U.S. Constitution that has been flaunted by Mr. Obama. Just last week, Aviation Week reported that the U.S. Air Force is part of a 24/7 AWACS operation over Libya, targeting all the bombing raids. So we are still fully engaged in war in Libya.
This week, the deal struck between President Obama and the Congress created a "Super-Congress" committee of 12, that has been given the authority to make decisions on taxation and debt policies that are the exclusive domain of the Legislative Branch. Nowhere in the Constitution does the Congress have the authority to turn over any of its powers to some rump body. I am not a Fox News fan, but Judge Napolitano certainly made the case that this is a cut and dried violation of the Constitution, and some members of the House or Senate are going to have to take this to Court. It is a really serious breach of the Constitution that must be undone.
As far as President Obama goes, I have come to see him as a latter day Rockefeller Republican. He is a creature of Wall Street, not the American people. He has bonded with leading Republican lawmakers in a way that goes way beyond his fractured relations to the Congressional Democrats. He practically got down on his knees last week to beg Tim Geithner to stay on as Treasury Secretary, at least through the 2012 elections. To even think of this President as a Democrat, at least in the tradition of FDR or JFK or even LBJ, is beyond my imagination. True, there have been Wall Street Democrats down through the ages. Martin Van Buren's name comes to mind. August Belmont, the Rothschild banker who came to New York City and became the Chairman of the Democratic Party (nationally) for nearly 40 years, is another. But Obama goes way beyond that. Maybe he didn't "cave in" to the radical rightwing of the Republicans. Maybe he is just a Rockefeller Republican, and the whole rotten and already-failed deal fits his ideological axioms to a tee.