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Old 07-16-2011, 01:56 AM   #2
boltondd

Join Date
Oct 2005
Posts
432
Senior Member
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For what it's worth, the Tea Party folks are apoplectic. I'm not sure about fainting, but threats are definitely involved. If Mr. Cantor, et al, do not abide by their pledge to the "American people" and instead raise the debt ceiling, some Tea Party Patriots warn, "There will be dire consequences."

http://www.cnn.com/2011/POLITICS/07/...ing/index.html

Well. I suppose 80% of us don't count as "American people" to these folks.

Here's the problem for the Republicans: if you're going to hold a hostage, you'd better be prepared to shoot him. They were not. When Pres. Obama pulled out the really big guns -- $4 billion in revenue and spending cuts, that included putting the sacred cows of Social Security and Medicare on the table to reduce the debt and deficit, the Republicans quickly pulled out the white flag and handed it to Mitch McConnell.

Now, why would they do that? Social Security, Medicare, $4 trillion off the debt? That's a gift. Heck, even the majority of Republican voters would go for that. Ahh, it's Pres. Obama's plan. That little corner the Republicans painted themselves into just got a whole lot smaller. As for the Tea Party, Eric Cantor and Grover Norquist? The Republican old guard just screwed the pooch.

After all this political posturing and maneuvering, what will happen? My guess is we'll raise the debt ceiling along with some anemic spending cuts and that will be that. Pres. Obama will have won this battle, but in truth, the economy won't be that much better off.
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