Let me start this missive by saying the buck stops at the desk of the President. The fact that he is presiding over this without striking some sort of compromise speaks to his narcism and inability to negotiate without his teleprompter. The far right part of the GOP wants to go over the debt ceiling. After carefully analyzing these people, I can tell you they are losing control of the republican party. The moderates know they don’t have a strategy to defund Obama-care and understand how reckless it is to throw the country into a deliberate financial crisis.
But the Tea Party believes in “fighting” and “pressing on”, using such absurd platitudes to embolden the weaker links in their caucus. They believe Obama-care will destroy America. Therefore, they will destroy it on their own terms, by defunding everything and going into default.
Some of these people actually believe we will not default. They cite net revenues versus expenditures and surmise we can “wing it” until a deal is brokered. This is a preposterous way of thinking. The bottom line in all of this is dramatic economic slowdown, one way or another. As such, stocks will be marked down accordingly.
At the end of the day, Obama-care will not be defunded because the votes aren’t there. This whole mess is one big show, conducted by people who operate on emotion and haven’t thought this through. It is the result of low quality persons occupying the seats in Congress, power hungry perverts, pandering to special interests.
Comments »