“What the Debt Limit Fight is Actually All About” by Jon Schwarz writing for The Intercept.
Mr. Schwarz presents a summation of much of what I’ve read over these last 5+ years concerning the political economy of the United States: “It’s not about debt at all. It’s about turning back the political clock 100 years.”
Echoing what Kurt Andersen, Nancy MacLean and others have gone into depth about, Mr. Schwarz puts it this way:
“IT’S HARD TO believe I’m typing these words, but there’s a genuine chance Congress may fail to pass an increase in the debt limit...it almost certainly would be deeply unpleasant, with huge job losses, unpredictable bits of the economy imploding...
I’ve always believed that it would be impossible for it to actually happen, because the Republican Party’s funders on Wall Street and in corporate America understood how much damage it would do...However [reasonable GOP donors have] far less power than billionaires who are as glued to Fox News as the party’s rank-and-file are. And these billionaires are suffering from the same cognitive impairment Fox causes all of its devotees...
And this brain-damaged community has a coherent worldview: that for the survival of America, they must destroy the “administrative state” — aka the New Deal, aka everything people like about the federal government, such as Social Security or regulations that stop chemical companies from dumping poison in your drinking water. Meanwhile, normal Americans have no idea the right has this planned, or even what those words mean.” [emphasis added]
The goal, Mr. Schwarz and others have written, of the neoliberals is to turn the political economic-clock back 100+ years: before Franklin and Theodore Roosevelt (for example) helped usher in notions that the federal government should, in fact, optimize politics and the economy for the citizenry--but instead should get out of the way of business and “the 1%” and allow wealth to flow unrestrained to the very top.
Also see: Kurt Andersen on Evil Geniuses