The debt ceiling isn’t Obama’s problem. It’s the GOP’s problem.

[babylonsister]

http://www.washingtonpost.com/blogs/plum-line/wp/2013/01/04/the-debt-ceiling-isnt-obamas-problem-its-the-gops-problem/


The debt ceiling isn’t Obama’s problem. It’s the GOP’s problem.

Posted by Greg Sargent on January 4, 2013 at 11:50 am


Obama and Dems have vowed not to negotiate with the GOP over the debt ceiling. This morning, I asked what “not negotiating” would look like in the real world, and whether it’s even possible. But another question may be even more relevant: Do Republicans really have the leverage in the debt ceiling fight they think they have?

Some Republicans are now coming out and acknowledging that the GOP may not be in a strong position in the debt ceiling battle, after all. Here’s Newt Gingrich, on Morning Joe today, telling Republicans that a debt ceiling fight is a “loser” for them:

“They’ve got to find, in the House, a totally new strategy. Everybody’s now talking about, ‘Oh, here comes the debt ceiling.’ I think that’s, frankly, a dead loser. Because in the end, you know it’s gonna happen. The whole national financial system is going to come in to Washington and on television, and say: ‘Oh my God, this will be a gigantic heart attack, the entire economy of the world will collapse. You guys will be held responsible.’ And they’ll cave.”

And here’s the Wall Street Journal editorial page, warning against it in similar terms:

Mr. Obama will say Republicans are risking national default and recession, most of Wall Street will echo him, and the Treasury will maneuver to apply maximum political pressure — for example, by claiming it can’t pay Social Security benefits. We’ll support efforts to cut spending and reform entitlements, but the political result will be far worse if Republicans start this fight only to cave in the end. You can’t take a hostage you aren’t prepared to shoot.

This gets right to the heart of the matter, which is this: Are Republicans really prepared to let the country go into default and take the blame for crashing the economy? Sure, maybe some Tea Party Republicans are, but if GOP leaders aren’t, and the next compromise can be passed through the House with mostly Democratic votes, then all of a sudden the GOP position doesn’t look so strong, after all.

snip//

This is on Congress. If Republicans are willing to force a choice between destroying the economy and gutting popular social programs, let them wallow in that winning message. If they’re willing to tank the economy to get what they want — after taking a shellacking in the election and proving so dysfunctional that they could not pass tax cuts for everyone but the ultra-wealthy without substantial Democratic help — then it’s on them. Just leave it there.

[Little Star]

1. Dems better not be putting SS on the table! Find the money in the over bloated defense budget!