Skip to main content

Appearing on Morning Joe earlier today, Newt Gingrich tells House Republicans that their debt limit bluff is "a dead loser" because it's obvious to everyone that they will ultimately cave:

They've got to find, in the House, a totally new strategy. For example, everybody talks about "Okay, here comes the debt ceiling." I think that's, frankly, a dead loser because in the end, you know what's going to happen. The whole national financial system is going to come into Washington by television and say "Oh my God, this would be a gigantic heart attack, the entire economy of the world will collapse, you guys can't be responsible." And they'll cave.
It says something about the state of the current Republican Party that Newt Gingrich is the one delivering to them a dose of reality, but there you have it. And he's not alone:
“If the Republican House thinks they’re going to get a deal on entitlements as a result of getting a deal on the debt ceiling, they’re foolish,” said former Sen. Judd Gregg (R-N.H.), co-chair of the Campaign to Fix the Debt. “[Obama’s] not about to do that and he knows that the Republican House isn’t going to be able to push us into default.”
The fact that Republicans are almost certainly bluffing is part of the reason that President Obama should stand firm on his pledge to not negotiate over a debt limit increase, but it's not the only reason: Even if they weren't bluffing, it would be a grave mistake to reward threats of economic sabotage. So it doesn't really matter whether Republicans are merely pretending to be economic terrorists on the debt ceiling or if they actually are economic terrorists: In neither case should their threats and behavior be rewarded. And given what Gingrich and Gregg said, it's not just Democrats who see it that way.

Originally posted to The Jed Report on Fri Jan 04, 2013 at 06:32 AM PST.

Also republished by Kos Georgia and Daily Kos.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

grytpype, cslewis, Sylv, DeminNewJ, wlkx, filkertom, ferg, grollen, slinkerwink, Rolfyboy6, sumitsu, Fabienne, red moon dog, bookbear, Morgana, cyberKosFan, wonkydonkey, whenwego, mkfarkus, jbeach, psnyder, lungfish, Eyesbright, elmo, chantedor, defluxion10, peterj911, ybruti, randallt, tomjones, TexasLefty, lyvwyr101, Gowrie Gal, maybeeso in michigan, historys mysteries, kitchen sink think tank, ZappoDave, ChemBob, Dobber, reflectionsv37, fixxit, Beetwasher, quaoar, peteri2, Steve in Urbana, Tunk, Thaddaeus Toad, mightymouse, Paper Cup, Jim P, flying shams, HoundDog, fou, hideinplainsight, JVolvo, Clive all hat no horse Rodeo, Tom Anderson, Hedwig, cpresley, ammasdarling, Cronesense, Loudoun County Dem, canadianpuppet, offgrid, puakev, karmsy, Matt Z, deepeco, sfbob, newpioneer, mbh1023, OIL GUY, Rumarhazzit, GeorgeXVIII, leonard145b, JML9999, TomP, Mighty Ike, JDWolverton, jwinIL14, MKinTN, gundyj, ratador, HappyinNM, Steve15, OleHippieChick, NewDealer, elwior, Akonitum, Judgment at Nuremberg, tofumagoo, pamelabrown, hwmnbn, smartdemmg, catly, Gemina13, petulans, phrogge prince, Nica24, JBL55, prettygirlxoxoxo, J M F, Sarge in Seattle, nyr2k2, Rick in Oz, kevinpdx, Keith Pickering, stevenwag, sfarkash, BlueOak, Its the Supreme Court Stupid, awcomeon, FogCityJohn, willynel, estreya, gramofsam1, piers, Interceptor7, Crabby Abbey, ItsSimpleSimon, ericlewis0, cocinero, wwjjd, fiercefilms, wrpereir, kerflooey, Liberal Capitalist, Will in Chicago, sostos, implicate order, Mistral Wind, kevin k, boomerchick, PorridgeGun, zukesgirl64, thomask, BarackStarObama, floridablue, LSmith, bluedust, Vatexia, cactusgal, blue aardvark, ratcityreprobate, leftykook, Mentatmark, Davui, fwdpost, Heart n Mind, StonyB, Siri, IndieGuy, tb92, Joieau, a2nite, Deep Texan, rukidingme, sreeizzle2012, Arahahex, MartyM, Vote4Obamain2012, avsp, splintersawry, etherealfire, T C Gibian, nomandates, jbob, SanFernandoValleyMom, dear occupant, aresea, alice kleeman, tampaedski, sparkysgal, mstaggerlee, blugrlnrdst, RUNDOWN, stuhunter2, CA wildwoman, Chas 981, ploopie

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site