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Yo_Mama_Been_Loggin

(107,085 posts)
Thu Sep 29, 2022, 08:33 PM Sep 2022

GOP leaders, business groups reportedly spooked the GOP might force a debt crisis if GOP wins House

Republican leaders, congressional aides, and business groups are concerned that House Minority Leader Kevin McCarthy (R-Calif.) and his caucus will threaten to push the federal government into default in another 2011-style debt limit crisis if Republicans win the House in November, as many political prognosticators expect, Axios reports. The political climate in 2023, when Congress will next have to vote to raise the U.S. government's credit limit, is worse than in 2011, when Barack Obama was president, these Republicans warn.

"Speaker [John] Boehner and a hypothetical Speaker McCarthy are different animals," a former House Republican who served during the 2011 crisis tells Axios. "Boehner was convinced of the necessity [of raising the debt limit] and was willing to twist arms. I just don't know about a Speaker McCarthy." Business leaders and GOP strategists are watching especially carefully who McCarthy would tap to chair the House Ways and Means Committee, firebrand ally Rep. Jason Smith (R-Mo.) or more mainstream Republican Rep. Vern Buchanan (R-Fla.), Axios reports.

Smith told Axios he thinks House Republicans could use the debt limit to force President Biden to undo much of his legislative accomplishments. "If Republicans are trying to cut spending, surely he wouldn't try to default," he said.

Rohit Kumar, a PwC executive and deputy chief of staff to Senate Minority Leader Mitch McConnell (R-Ky.) when McConnell and Biden negotiated a way out of the 2011 crisis, called another such debt limit standoff his "nightmare scenario." "Thinking that you can credibly threaten the full faith and credit of the federal government in exchange for some collateral demand is just wish casting," he said.

https://www.yahoo.com/news/gop-leaders-business-groups-reportedly-044022899.html

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GOP leaders, business groups reportedly spooked the GOP might force a debt crisis if GOP wins House (Original Post) Yo_Mama_Been_Loggin Sep 2022 OP
So what are the business groups and GOP leaders going to do about it? Midnight Writer Sep 2022 #1

Midnight Writer

(21,547 posts)
1. So what are the business groups and GOP leaders going to do about it?
Thu Sep 29, 2022, 09:15 PM
Sep 2022

Will they pull support from the crazy Republican members?

Will they stand against McCarthy as leader and vote for someone more responsible and sane?

Will they stop giving money and support to Republicans and the dark Money PACs?

I'm sick of these crocodile tears from people who are getting exactly what they have been working for.

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