Bloomberg Businessweek - "The GOP's Phony Debt-Ceiling Threats"

[TomCADem]

I think what is notable is that this article is appearing in BusinessWeek of all places. I think even right leaning publications are not going to entertain Republicans who want to take a debt ceiling breach for a test drive. The Wall Street Journal might try to argue that Democrats are refusing to compromise or negotiate over the debt ceiling, but even the WSJ will eventually say that Republicans must heroically save the country by agreeing to drop their demands.

http://www.businessweek.com/articles/2013-12-18/the-gops-phony-debt-ceiling-threats?google_editors_picks=true

Even before President Obama signs the two-year budget deal settled on with uncharacteristic ease by Congress, Republicans have begun issuing threats about the upcoming debt-ceiling deadline and the ransom they will demand to extend the nation’s borrowing capacity. Yesterday it was Senator Mitch McConnell (R-Ky.): “Every time the president asks us to raise the debt ceiling is a good time to achieve something significant for the country.” On Sunday it was Representative Paul Ryan (R-Wisc.): “We don’t want ‘nothing’ out of this debt limit. We’re going to decide what it is we’re going to accomplish out of this debt-limit fight.”

Republicans want something, dammit—even if they’re not sure what it is. This combination of truculent threats and vague demands inadvertently recalls the hilarious line uttered by Republican Representative Marlin Stutzman of Indiana during the October shutdown, exposing the folly of that whole enterprise. “We’re not going to be disrespected,” Stutzman told the Washington Examiner. “We have to get something out of this. And I don’t know what that even is.”

Driven by either force of habit or guilt over a budget deal that raises spending and taxes (“fees”), Republicans are turning back to their old tactics. Those tactics failed last time and are sure to do so again. Stutzman and his party got nothing out of the shutdown but lousy poll numbers, and they’re not going to get anything out of another debt-ceiling scare, either.

* * *

The truth is that nobody believed the Republican threat last time around. At a holiday reception a couple weeks ago, I asked a prominent Wall Street wealth manager if he or any of his clients had been worried about a debt-ceiling breach. He laughed. Once the Republicans folded, they’re in an even weaker position this time around. Talk to any Republican staffer or even some conservative activists and you’ll likely hear that the caucus is “fatigued” and the appetite for further showdowns has vanished.

[BlueStreak]

1. At this point, Obama is just daring them to try it

Pathetic, really. It is so predictable. After standing tough for the big impasse, there is no way Obama should ever give an inch on that one. It is to our advantage that the GOP continue to show themselves as reckless. You notice that Obama hasn't said anything, and Carney dismissed it with minimal comments. They are trying to goad the teabaggers into overplaying their hand again.

[Cha]

2. thanks Tom!