Wednesday, May 25, 2011 11:41:06 AM
Top Republican promises Wall Street that GOP is bluffing on debt limit
Ransom note
Maybe after NY-26 Republicans
will change their debt ceiling ransom note
Dave Camp, chairman of the House Ways and Means Committee, is telling Wall Street that the GOP is bluffing on its threats to force the United States into default on its obligations and that plans to vote against raising the debt limit are designed to pander to teahadists:
Camp has made the case to Wall Street that the vote is just a political marker intended to make clear that significant cuts will be required to get an increase through by August, when emergency measure run out and markets could begin to take possible default more seriously.
Camp’s calls come as the GOP walks a fine line between satisfying its tea party-influenced base, which fiercely opposes raising the debt limit, with a broader public concerned about the impact a default, or near default, could have on markets and the economy.
In other words, "We're voting against raising the debt limit to prove we're going to raise the debt limit." Maybe that makes sense in teahadistan, but to everybody else it's just yet another reminder of what a complete joke the Republican Party has become, utterly incapable of governing anything, let alone the United States of America.
As far as I'm concerned, raising the debt limit is a Republican problem. Democrats have already said they're willing to do it. The White House has been pushing the GOP to act and yet Republicans have done nothing.
At this point it's clear one of two things are going to happen: either Republicans are going to do the responsible thing and raise the debt limit, or they are going to create economic chaos by forcing the federal government to default on its obligations. It's entirely their decision. There isn't anything at all Democrats can do to influence it. So it's time to sit back and focus on other things until Republicans decide whether or not they are going to get their shit together.
http://www.dailykos.com/story/2011/05/25/979096/-Top-Republican-promises-Wall-Street-that-GOP-is-bluffing-on-debt-limit?via=blog_1
Ransom note
Maybe after NY-26 Republicans
will change their debt ceiling ransom note
Dave Camp, chairman of the House Ways and Means Committee, is telling Wall Street that the GOP is bluffing on its threats to force the United States into default on its obligations and that plans to vote against raising the debt limit are designed to pander to teahadists:
Camp has made the case to Wall Street that the vote is just a political marker intended to make clear that significant cuts will be required to get an increase through by August, when emergency measure run out and markets could begin to take possible default more seriously.
Camp’s calls come as the GOP walks a fine line between satisfying its tea party-influenced base, which fiercely opposes raising the debt limit, with a broader public concerned about the impact a default, or near default, could have on markets and the economy.
In other words, "We're voting against raising the debt limit to prove we're going to raise the debt limit." Maybe that makes sense in teahadistan, but to everybody else it's just yet another reminder of what a complete joke the Republican Party has become, utterly incapable of governing anything, let alone the United States of America.
As far as I'm concerned, raising the debt limit is a Republican problem. Democrats have already said they're willing to do it. The White House has been pushing the GOP to act and yet Republicans have done nothing.
At this point it's clear one of two things are going to happen: either Republicans are going to do the responsible thing and raise the debt limit, or they are going to create economic chaos by forcing the federal government to default on its obligations. It's entirely their decision. There isn't anything at all Democrats can do to influence it. So it's time to sit back and focus on other things until Republicans decide whether or not they are going to get their shit together.
http://www.dailykos.com/story/2011/05/25/979096/-Top-Republican-promises-Wall-Street-that-GOP-is-bluffing-on-debt-limit?via=blog_1
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