As The Economy Picks Up, the GOP’s Hostage Plans Have Been Foiled!
Listening to the PoliSciFiRadio podcast is one of my favorite things to do with my clothes on. Steve Benen, Bill Simmon and Emily Stoneking are a joy to listen to and of course, anyone who reads this blog knows that I pretty much worship Steve Benen as a political blogger. On a recent show, Steve pointed out that with the pick up in the economy, and thus increased revenues coming in, we will not hit the debt ceiling until much later in the summer. The GOP was counting on it in May or June and saw it as their leverage in the budget negotiations. Because you know, that’s how they roll these days.
Steve pointed to this great article from Greg Sargent at The Washington post that reveals this idiocy.
In today’s exercise in Fiscal Fraudulence, Republicans are making it clear they’ve decided they don’t want to enter into budget negotiations with Democrats until the debt ceiling deadline gets a good deal closer. ”The debt limit is the backstop,” Paul Ryan says. “I’d like to go through regular order and get something done sooner rather than later. But we need to get a down payment on the debt. We need entitlement reform.”
Greg Sargent quotes Kevin Drum, who sums it up pretty concisely.
Republicans are flatly refusing to even start budget negotiations until they can threaten default on the national debt if they don’t get their way. Apparently this is literally the only way they’re now willing to do business.
The even crazier part of this story is that the Republicans have already made it clear that they will not ever actually crash the economy with the debt ceiling threat. Greg Sargent sums up the whole mess pretty nicely.
It’s actually even crazier than Beutler and Drum say. Republicans are not willing to enter into fiscal negotiations without being able to wield the threat of crashing the economy to get their way — even as they have already revealed they are not willing to actually crash the economy to get their way. We already know Republicans are not willing to allow default. As you’ll recall, they caved during the last debt ceiling fight. More recently, John Boehner flatly admitted: “I’m not going to risk the full faith and credit of the federal government.” And Republicans are also set to vote on a bill (a nonstarter for Dems) that would allow Treasury to raise the debt ceiling just to pay off bondholders — with the goal of being able to continue demanding concessions in exchange for raising the debt limit while simultaneously avoiding default. That alone is yet another admission that Republicans are not willing to allow default to actually happen.
And so the GOP position, with no exaggeration, is this: Of course we’re not crazy and irresponsible enough to allow default to wreck the economy, but Democrats should pretend we are indeed crazy enough to do just that, so that we can win concessions from them in exchange for coming down (hint, hint, wink, wink) from the ledge.
The modern Republican Party has lost its way, we welcome all into the sane Democratic Party. Join us in sending the Republicans packing in 2014.