Did I miss the lingering effects of the supposedly disastrous-for-Republicans government shutdown, which was the obvious motivation of Paul Ryan’s November 19, 2013 pre-budget-negotiation-guarantee that, and I quote, “We will keep the government funding at the current level if need be.”
Atta boy Paul, that’s a tough negotiating position…not!
Since the government shut down for 16 days last October, the Democratic Party’s 2014 electoral prospects and President Barack Obama’s approval ratings have plummeted due to the Obamacare website roll-out disaster, cancellation of insurance plans Democrats had promised Americans they could keep, and hikes in policy premiums. Curiously, despite a government shutdown that establishment Republicans feared so much that they betrayed Sens. Ted Cruz (R-TX), Mike Lee (R-UT) and other conservatives attempts to de-fund or delay Obamacare at the 11th hour, GOP prospects for the 2014 election have greatly improved. Continue reading
The only “faction” that controls whether to default, remains president of the United States.
Conservatives should be happy that Speaker John Boehner will agree to a short-term raising of the debt limit while insisting that President Barack Obama and the Democrats compromise over a continuing budget resolution to end the government shutdown.
Not because the former removes the specter of an actual “default”, but rather because it removes any plausible Democratic Party or media (but I repeat myself) allegation that a Republican refusal to raise the debt ceiling could be the cause of any downward market activity before or after the Obama Treasury Department-declared deadline of October 17.