Debt Default

The Republican Party And Debt Default And Government Shutdown: Constant “Hostage Taking” Tactics!

Now that the “Fiscal Cliff” battle is over, and Barack Obama has won the battle on raising taxes on high incomes, a compromise at $450,000, instead of his original plan of $250,000, already the Republican Party, which lost the battle with only one third of them supporting it, but with Democratic backing and agreement to conduct a vote by Speaker John Boehner allowing it to pass, are creating a new crisis with reckless, irresponsible Republicans ready to fight on the issue of the raising of the debt limit, which must occur by the end of February. A new “Hostage Taking” situation is being created once again!

Among those Republicans who are arguing for a debt default and government shutdown are:

Senator Lindsey Graham of South Carolina
Senator John Cornyn of Texas
Senator Pat Toomey of Pennsylvania
Senator Rand Paul of Kentucky
Senator Mike Lee of Utah
Congresswoman Michele Bachmann of Minnesota
Congressman Eric Cantor of Virginia, Majority Leader
Congressman Paul Ryan of Wisconsin, House Budget Commitee Chairman
Congressman Kevin McCarthy of California, House Majority Whip

Among those arguing against it, but not in public office are:

Former Senator Judd Gregg of New Hampshire
Former Speaker of the House Newt Gingrich
Just about any sane Republican who held office in the past and is holding his or her head in their hands in grief at what their party has become!

Speaker John Boehner has said that we cannot renege on the debt, and he knows that the government shutdown in 1995 by the House Republicans under Newt Gingrich during the Bill Clinton Administration was a disaster, and helped Clinton win a second term, and public opinion polls backed Clinton during the debacle.

But Boehner, having lost support of a dozen House Republicans in the Speakership vote on Wednesday, is weakened, and has a massive headache with Tea Party radicals and others who should know better than to play games with the fiscal health of the American economy!

Boehner has already said he will not speak privately with Obama, and has already insulted Senate Majority Leader Harry Reid with foul language, which he has not apologized for.

This creates a very awkward situation as the deadline nears iin late February, and all it will do is boost the ratings of the Democrats and President Obama, and further degrade the Republican Party future. Obviously, their defeat in November has NOT changed the mindset of the GOP, and that spells tragedy for their political futures!

A thought that comes to mind is that Vice President Joe Biden might again have to be called upon to negotiate with Boehner and others, since Obama and Reid seem to have no possibility of private discussions with House leaders or Senate leaders. Biden may, again, save the day, for the umpteenth time!

The point is that the Republican Party is fighting a losing battle for public opinion, and if there are bad economic implications, they will be the ones to suffer for it in 2014 and 2016!