As I posted a few days ago, every delay in fixing the Debt Ceiling issue is hurting America. It is costing us jobs by the day, and it is costing us our retirements, our investments, our financial security and it is damaging the US Economy on a level that is actually effecting world markets. This situation should have been resolved months ago (given that we hit the Debt Ceiling at the end of April), but political gamesmanship has prevented any agreement on resolving it. This gamesmanship shows no sign of ending.
As I also pointed out in my last post on the subject, many pundits have surmised that the reason the Republicans are stonewalling on the issue is that they feel that by going default, this issue will hurt Obama and the Democrats, making way for a Republican takeover in the US Senate and pave the way for a Republican President. It is one thing to surmise this… it is quite another when they admit it.
I give you this article from CNN today. The money quote is about 2/3 rds of the way down the article -
If Obama and Boehner, R-Ohio, reach an agreement on such an ambitious package, they realize it will likely be met with stiff opposition from lawmakers in both parties, the aide said. Tea party-backed conservatives will oppose revenue hikes, and liberal Democrats will oppose entitlement cuts.
That said, the aide indicated, Obama and Boehner believe they can each gain politically from making attempt to cut a grand deal — even if it is rejected — because the public would see they tried to take bold steps to solve the problem. If it is rejected, the two can fall back on a $2.4 trillion deal put forth before the talks collapsed.
McConnell, R-Kentucky, will likely reject such a deal, in part because Republicans believe they have a better chance of winning back the Senate if a long-term deal fails, the aide said.
Expect that quote to come back to haunt not only McConnell, but every incumbant Republican running for re-election as well as every new Republican looking to unseat a Democrat. Also expect that quote to be hauled out any time a Tea party Candidate opens their mouth. Each and every pundit in Montana that doubted Wulfgar when he pointed this months ago owes him an apology.
To make matters worse, you have Tea Party backed Ultra Right Wing Candidates like Michele Bachmann saying things like -
”That’s why I fought against the wasteful bailout, against the stimulus. I will not vote to increase the debt ceiling.”
This kind of stupidity is what will cost the Republicans many elections next year. If they actually succeed in preventing an increase in the Debt Ceiling, instead of the accolades they think they will recieve, they will be branded as idiots, morons and anti-American by their own constituants. Do they really think we are all that stupid?
Author’s note – I am somewhat surprised that this story hasn’t been picked up by at least the Montana Left so far. This is a watershed moment and one that I fully expect to see touted loudly and often over the next 18 months.