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  •  It takes two sides to bargain (2+ / 0-)
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    divineorder, JohnInWestland

    The difference between the govt shutdown and the debt ceiling, is that, much as the Rs were less averse to the prospect of a shutdown, and thus prevailed in the game of chicken, they still didn't want the shutdown for its own sake.  Even their teahadists saw the shutdown itself as a wreck, as a bad thing to be tolerated only for the good things they could extort from Ds even more afraid of it than they are.

    But a failure to raise the debt limit would have this benefit for them that I talk about, that it would increase the interest rates available to the US, and thus force a turn away from "borrow and spend".  Since they have already shut down "tax and spend", they will calculate that this means forced drastic decreases in spending , and they will finally shrink the govt down to where it can be drowned in Norquist's bathtub.

    So, perhapos we will get "lucky", and our wonderful D leadership will not be able to bargain away the farm over the debt ceiling, much as they might want to, because the teahadists won't take any "yes" for an answer.  They will pretend to bargain only enough to make it seem like there was bargaining that failed, there will be a default, and they get their US debt crisis as our costs of borrowing go through the roof.

    We should have destroyed the presidency before Obama took office. Too late now.

    by gtomkins on Mon Apr 11, 2011 at 02:35:02 PM PDT

    [ Parent ]

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