Friday, June 3, 2011

The Greatest Kabuki of Them All

Everyone agrees that not raising the debt ceiling would destroy the world economy, yet the Republicans are using it as leverage to get concessions out of the White House.

Would the Republicans be willing to destroy the world economy in order to score political points? I wouldn't put it past them. However... the large corporations who paid quite a bit of money to get the GOP into office would not be too happy if the world economy tanked, and unlike the crazy people who elected a Republican house, they most certainly have enough leverage to force their hand.

But hey, don't trust me, take their word for it! This stuff is hardly a secret:
WASHINGTON, D.C. (WAVE) - Treasury Secretary Timothy Geithner said Republicans have agreed to raise the debt limit. Although the issue is still being debated in Congress, Geithner said on Meet the Press that GOP leaders have already assured President Obama they will pass an increase in the government's borrowing limit. Geithner said not doing so would hurt the nation's credit rating and diminish worldwide confidence in the United States economy.
They're so serious about this they've called their Wall Street masters to assure them that they're not serious!
Just in case, Republican leaders scheduled the vote for after the stock market’s close, and in the preceding days called Wall Street executives to assure them that the vote was just for show, to show Mr. Obama that he would have to make concessions in budget negotiations if a debt-limit increase is to pass Congress.
You'd think that once you admit you're bluffing, the "negotiations" would be over. Yet the Democrats seem hell bent on having them, and  bringing some some heavy shit to the table:
Rep. Steny Hoyer, the House Democratic Whip, says he's confident Republicans and Democrats will ultimately reach an agreement to raise the debt limit.

Speaking to reporters following the Democrats' meeting at the White House, Hoyer said, "The markets ought to know we're going to get it done. I've told Speaker Boehner and leader [Eric] Cantor that I will work with them the leader will work with them in making sure that we get this done."

Rep. Chris Van Hollen, another Maryland Democrat, acknowledged, however, that tough negotiations remain. "We have made progress on some important issues," Van Hollen told reporters. "Have we engaged on some huge, what I would refer to as politically nuclear issues? No. But the reality is you have to begin to walk with the first step."
From here on out, I'm going to go under the assumption that anything the Democrats cut in the Debt Ceiling negotiations is something they wanted to do away with anyway. Am I missing something?

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