R.I.P. G.O.P.-House Debt Ceiling Proposal Could Bring The Final Curtain Down On The Republican Party - Forbes
Remember that all political parties run on the same fuel—money. And while a government shutdown will prove inconvenient to a large number of Americans while brutally destructive to a few, none who would suffer are those who make significant financial contributions to the Republican Party.
This is not the case with a default.
Indeed, Wall Street has been very, very busy bending the ears of their Republican House Members and their hapless staffs, insisting that the government not be allowed to default on its obligations.
Why?
Because Wall Street fears that default could result in tragic consequences for the world economy and that will be devastating for business. Indeed, even if a default failed to result in the economic Armageddon some—but not all— predict, everyone agrees that such a move would surely result in rising interest rates (either quickly or over time) and a devaluation of the dollar—all of which would also be very bad for business.
While the Congressional lunatic fringe may have nothing to fear from a default—their districts would, no doubt, continue to send them back to Congress—the loss of the nation’s financial class to the Republican Party would mean the complete destruction of the party for years to come. Why? Because the demographics of the country, and the unwillingness of the Republicans to get out in front of these changes, now virtually assure that the GOP has ceded control of the White House for the foreseeable future. That means that their sole hope for power rests in the legislative branch.
How long does anyone imagine that the GOP will retain control of either branch of Congress if the money leaves the Republican Party and sits on the sidelines?
The (D) party can try to lay this at the doorstep of the House but history will only remember who was the President when it happened.
Just like I remember that Clinton was the President the last time the government shut down.
Ya know what the difference is?
Clinton had the balls and LEADERSHIP SKILLS to work with Newt and the House to solve the ******* problem.
Where's Obama?
Out campaigning, of course, and telling everybody that he will not compromise when it comes to his signature legislation.
His ego is bigger than this whole ******* country