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View Diary: Lindsey Graham promises global 'financial collapse and calamity' over debt ceiling (195 comments)

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  •  The ceiling will be raised, after Obama caves (0+ / 0-)

    And he will.

    Not because he is weak (well, maybe part of it) but because the GOP simply does not care if they crash the world economy.

    Obama is a responsible leader.  They are lunatics.

    He has to cave.

    And there will still be great damage one way or another, and given our idiot citizenry and pathetic, gutless media, the Democrats will be blamed because our party has the White House.

    Republicans are a toxic, evil mix of viciousness and the knowledge that comes from realizing they can get away with anything.

    •  I'm not sure that is true anymore (1+ / 0-)
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      marina

      It is really, really bad for our government to go through this exercise every 6 months to a year.

      Obama has had about 18 months to come up with a strategy that works better than what he did in Summer 2011.   The signal at the moment is that he will do something to prevent the debt ceiling from ever being used as a hostage again, this time around.

      This may require having us hit it and go into a kind of government shutdown.  Or it might involve a trillion dollar coin.  Or something else we've not thought of.

      At the moment the only two things the White House has said are off the table are 14th amendment fiat and actually letting the Rs use it as a hostage, repeatably.

      I don't know the plan, except that I'm pretty certain it is different from the 2011 plan, and is taking long term consequences into account.

    •  He doesn't. (1+ / 0-)
      Recommended by:
      marina

      There are two separate scenarios being floated for response to complete irresponsibility on the part of Congress re the debt ceiling.  One is to declare the nation's debt an inviolable obligation and take whatever action is necessary to render it unquestionable as directed by the 14th Amendment.  The other is to mint a platinum coin of whatever denomination he in his Executive judgement deems necessary, and deposit it to the US Treasury account as a credit against our debt, allowing more borrowing without ever trying to make any actual creditor accept the coin as payment.

      The President doesn't WANT to use either of these options.  But he has them, he knows he has them, and if it's a choice between using one or both or letting the US and world economies crash and burn for a second time, he is going to choose the most responsible manner he can to respond.  Obama isn't very flashy and macho, but cool and competent, he can do standing on his head and juggling donuts while drunk.

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