Republicans thought they had the home-field advantage at the House Financial Services Committee’s “Why Debt Matters” hearing Tuesday. The falling snow seemed to energize them as much as the cause and they came early and in force, outnumbering the Democrats by more than 2-to-1 when Chairman Jeb Hensarling of Texas gaveled the hearing open.
The Republican juggernaut slowed down from there. Sequels, even debt sequels, rarely work as well as the original.
Hensarling nevertheless reeled off the dangers, many of which are mighty familiar: an economic and political death spiral, street lights going out, ambulances not running, buildings going vacant and college graduates turning to subsistence farming. College graduates with the skills for subsistence farming seemed like an inviting campfire in the dystopia, but Hensarling didn’t mean it to be. Not that the chairman was predicting any of this. He was just saying.
Ranking member Maxine Waters of California mentioned the Bush administration’s tax cuts and wars. She didn’t want to dwell on those things. She was just saying. Waters, to her own surprise, got David Cote, the chief executive of Honeywell Inc., to offer immigration reform as a way to spur the economy and contribute revenue to the government.
Cote was appearing for the debt-matters case and raising immigration reform was his own goal for the team. Later, in the spirit of just saying, Cote told the committee, “There’s a phrase we use a lot in the company, which is ‘we are where we are.’ ” Even Republicans must have wondered at this point whether the 1 percent are all they’re cracked up to be. Full story