Facing a humiliating defeat in their last-ditch attempt to defund the Affordable Care by threatening a government shutdown, House Republicans have hatched yet another plan to screw with it. This time, they are threatening to default the United States on its debt obligations. What are their demands to release this hostage? Basically, that the president re-elected in a landslide must stop governing according to his mandate, sign up for the drill-baby-drill crowd, and agree to let coal plants pollute more. Oh, and delay the Affordable Care Act for a year. Exactly none of which has anything to do with the deficit, except the fact that delaying the ACA increases the debt.
“The president says ‘I’m not going to negotiate,' ” Mr. Boehner said. “Well, I’m sorry, but it doesn’t work that way.”Except that is exactly how it's going to work, and John Boehner knows it. This will be the same kabuki theater: the House will pass Boehner's idiotic plan, the Senate Democrats will strip out provisions unrelated to the debt ceiling and send it back to the House, at which point Boehner will have to break the Hastert Rule and pass it with largely Democratic and a few Republican votes.
But the public's irreconcilable positions on spending cuts are hardly the toughest factor facing Republicans on the debt ceiling. President Obama isn't the only one worried about setting a precedent of letting wingbats hold hostage the nation's ability to pay the bills on the money Congress has already spent. The global financial industry and the business lobby - which bankroll the Republicans in Washington - have absolutely zero tolerance for crashing the debt limit, which will unleash chaos and catastrophy in the global financial markets and create havoc for big business which rely on financing being available.
Crashing the global financial system, which failure to raise the debt ceiling will certainly cause, is not acceptable to anyone except the crazy Tea Party lobby. So Boehner and DC Republicans will posture, and pontificate, and speechify, and threaten, and pay lip service, but the end of the day, will have bupkis to show their frantic base. Boehner cannot delay Obamacare or roll back other actions of the president's by using the debt ceiling as a hostage, because he has neither the ability nor the willingness to shoot that hostage.
Providing positive proof that you can never be crazy enough for the Tea Party, this proposal is already falling apart. The House GOP can't find the votes within its own caucus to pass this, The Hill reported just 28 minutes from the publication of the above piece. The Teabaggers in the House are complaining it doesn't have any specific spending cuts, which, ironically, is true.