John Ransom

Peas are all the rage when it comes to talking about the country’s fiscal woes.

You might remember that in July of 2011, when fighting over the debt ceiling, president Obama- right before he left for his 17th vacation at Martha’s Vineyard that year- complained about congressional inaction by saying that’s it time for the country “to eat its peas.”

From CBSNews:

"I've been hearing from my Republican friends for some time it is a moral imperative to tackle our debt and deficits in a serious way," Mr. Obama said. "What I've said to them is, let's go."

The president said today he would not accept a smaller, short-term deal. "We might as well do it now," he said. "Pull off the band aid. Eat our peas."

Of course the president and Congress refused to eat their peas then, preferring to put it off until after the presidential election. There were far too many sweets at the table going into an election year- and delicious pork too.   

But, now the election is over. Sweets are off the table; the congress is a lame duck even if still addicted to pork. And a deal has been FINALLY struck to “tackle our debt and deficits in a serious way.”

Just wait; this ought to be really funny.

Because now we have an idea just exactly how many peas Obama meant in 2011 when he said it was time to “eat our peas.”


Here’s what he meant: one (1) pea.

Yum.  Thanks Congress! Thanks Mr. Obama!

Now we’re too full apparently for any more peas. Glad we’ve shown how serious we are about deficit reduction too.

At least that’s the take of Rick Santelli, the editor at CNBC, who helped create the Tea Party by his famous soliloquy calling for a Tea Party in Chicago reminiscent of the one that took place in Boston in 1773.

Back then Santelli was outraged by the administration’s proposals to bailout homeowners who were behind in their mortgages. He nailed the administration on encouraging bad behavior by trying to keep people in houses they couldn’t- and still can’t- afford.   

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.

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