The last time Republicans shut down the US Government, they were blamed for the damage it did and rightly do. With nothing new to offer, they are returning to the same policies that caused the current mess, and threating a government shut down, if Obama refuses accede to their demands. To avoid their previous failure, they are ramping up their noise machine to blame Obama in advance.
In an interview with Fox News Sunday this morning, Rep. Eric Cantor (R-VA), the #2 Republican in the House, threatened to take the nation’s economy hostage if President Obama does not comply with House GOPers’ as yet undefined demands. When asked if he would take a government shutdown on forcing the United States to default on its debt off the table, Cantor responded that it would somehow be President Obama’s fault if House Republicans press this agenda…
…Watch it:
It’s difficult to exaggerate just how harmful a shutdown or default would be for the United States and its economy. A “shutdown” occurs when Congress fails to appropriate money to fund the federal agencies. As a result, nearly every federal employee is sent home, including the officials who cut Social Security, Medicare and Medicaid checks. In other words, by threatening a shutdown, Cantor is holding the incomes of millions of American seniors hostage unless Obama complies with his petty demands.
The consequences of a default would be even worse — indeed, if a shutdown amounts to a hostage crisis, a default is the equivalent of shooting the hostage. A default could occur if the House GOP refuses to authorize the Treasury to issue new bonds in order to cover the interest on the nation’s existing debt, and the results of such a default would be catastrophic.
If the world’s safest investment — US Treasury bonds — were essentially converted into junk bonds overnight, it would trigger a worldwide financial panic… [emphasis added]
Inserted from <Think Progress>
We must start now to get out the word that,m if they do these things, it will be because Republicans believe that compromise can only happen when it’s all their way all the time.
10 Responses to “Republicans Threaten Shutdown-Default”
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If the Teapublicans think they were given a mandate by the mid-terms, they’re more delusional than I thought. The exit polls clearly demonstrate the true sentiment was a “Pox on both your houses” – and Democrats just happen to have a bigger house. People want to see some progress.
But what we’re now facing for the next two years is a president truly trying to govern a country during a deep crisis, and Teapublicans focused entirely on harassing or preventing him … while running for 2012. Hell, they keep yammering about a “balanced budget” – but haven’t once shown where they’re proposing to make the cuts to accomplish that. And earmarks ain’t going to get them there. Time to show us where you’re going to cut entitlements and defense, Boehner, Cantor, McConnell et al.
I agree, Nameless. Democrats are being punished for their failure to overcome Republican obstruction, ironic as that is. But Obama can fight back using the failure of the Republican House to come up with any productive legislation.
They won’t be able to convince people that the Democrats are responsible for a government shut-down. Democrats like having the government do things, everybody knows that — if only because the Republicans themselves say so at every opportunity.
If they try this again it will blow up in their faces, just like last time.
Infidel, I hope you’re right, but US voters seem to be getting dumber, Exit polls are showing that the majority of senior voters believed that the new health care bill would cut their Medicare.
I’m with both you guys. If we default on our debt, the whole world will know who caused it. If they shutdown the government, seniors will go batshit crazy on the repubs. They might get recalled. 😛
I wish there was a provision for recall on the federal level.
I can’t help but be reminded of Lincoln’s response to Southerners who said it would be Lincoln’s fault if the South seceded: “That is cool. A highwayman puts a pistol to my ear and says, ‘Stand and deliver, or I shall kill you, and then you will be a murderer!'” Makes as much sense now as it did then….
Welcome Oudiva! 🙂
Thank you so much! That’s a wonderful analogy.
There’s no logical reason for it anyway, we’re not on the gold standard but there’s still gold standard thinking. I concur though, it’s the same type of thinking that Paulson used to ram through TARP-try to incur panic where none is necessary.
Oso, I agree. Sadly that same thinking is international in scope.