So we all know that the debt ceiling is the next big battle between GOP leaders and the U.S. economy… sorry, President Obama. They said as much after the whole fiscal cliff drama on New Year’s Day. But cracks are appearing in the once-united front of Congressional Republicans and sane Republicans (they exist! I saw one once). And I don’t think they quite realize just how badly they’ve given away the charade.
Well, a couple of them have, anyway. Primarily, Karl Rove and Tim Pawlenty. First, let’s see what Turdblossom let slip in his latest column for The Wall Street Journal:
The experience didn’t leave Mr. Obama with greater humility. Instead, this New Year’s Day he tartly said, “We can’t not pay bills that we’ve already incurred.” Who is suggesting we don’t? Not House Speaker John Boehner and Senate Minority Leader Mitch McConnell, or any other Republican leader. Quite the opposite. They want to cover the cost of the existing debt while cutting spending to prevent a fiscal catastrophe.
Did you catch it? “Who is suggesting that we don’t?” Pay our bills, that is. According to Rove, Boehner and McConnell would never! How could we suggest such a thing? Except, of course, they did. In a post-fiscal-cliff-deal appearance on Meet The Press, Mitchie said that Congress (meaning GOP members thereof) will “… have to use whatever leverage we have.” And Boehner stipulated that any dollar added to the debt ceiling has to be matched with a spending cut. They have threatened to hold the country’s borrowing power hostage despite the knowledge that doing so would be catastrophic for the economy – and not just ours.
But now we are seeing some backpedaling. Rove is the only one who continues to wear his red glasses but other, more honest, Republicans are hedging now. Even Boehner told the Wall Street Journal’s Stephen Moore that the debt bill is “one point of leverage, not the ultimate leverage.”
But business leaders are sounding off and they are letting it be known that they are not at all on board with a debt ceiling fight. The Financial Services Roundtable, headed by former GOP presidential candidate Tim Pawlenty, is starting to put some pressure on Congress to raise the ceiling, saying that if they don’t, the markets could “go haywire.” They are stable at the moment because, in the words of FSR spokesman Scott Talbott, the markets are used to the fact that “… Congress will make the shot at the buzzer.” But if they fail to make it to the basket this time, the results could be very bad, indeed.
So let’s boil this down: Congressional GOP leaders want to use the debt ceiling as a bargaining chip, threatening not to raise it unless cuts are made (nevermind that we’ve already made $1.7 trillion so far). The resulting financial meltdown would cost their corporate masters a LOT of money if they go through with their threat. Yet they continue to say that they will have this battle and damn the consequences. But Karl Rove let the cat out of the bag and groups like the Financial Services Roundtable are making it yowl. I wonder what that cat will do?
T. Steelman is a life-long Liberal. She has been writing online about politics since 2007. She lives in Western Washington with her husband, daughter, 2 cats and a small herd of alpacas. How can anybody be enlightened? Truth is, after all, so poorly lit…