The Republican Tea Party loons of the U.S. Congress have become world famous, and no wonder, since their capture of the GOP endangers the entire global economy. The most recent observation of this was by Australia’s deputy PM and finance minister, Wayne Swan:
“Let’s be blunt and acknowledge the biggest threat to the world’s biggest economy are the cranks and crazies that have taken over a part of the Republican Party. Global markets are nervously watching the positioning of hardline elements of the Republican Party for signs that they will dangerously block reasonable attempts at compromise.”
“Swan: GOP ‘Cranks and Crazies’ Threaten Growth,” Edward Johnson, Businessweek
His boss backs him up. ”What happens in the U.S. economy matters to the world economy and it matters to us,” said Australian Prime Minister Julia Gillard. “Wayne Swan was making that very common sense point today.”
The Tea Party has blockaded any action in Congress, and we can expect more of the same. That means the GOP is steering the US off the fiscal cliff, and taking the world economy with them. How did that happen? Ask Rep. Paul Ryan, Republican vice presidential candidate. He was on the committee that agreed to that death pact.
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Image (“‘Tea Party’ and ‘Crazy’ are Not Mutally Exclusive, after Sir John Tenniel”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com
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