Apparently the firebrands in the House GOP have decided that they're tired of taking a hostage they can't shoot, and are pinky swearing with each other that they'd rather let the economy crater than give in to the President (and the demands of sanity).
http://www.politico.com/...
So, what does this mean?
Honestly, I'm getting from the story the vibe that Boehner knows that this plan is suicidal for the economy and his party (he's scheming, not batshit crazy like so many House GOP members), but he cannot convince them to back away from their plan to sink America into a possible double dip recession just to spite the President who's beaten them time and time again.
Oh they'll claim it's because as the market improves, the interest rates will cause problems with repaying our debt, but let's put it this way.
"To prevent problems with paying the debt we've authorized, we're going to stop paying the debt we authorized"
Harkens back to the old saying "We had to destroy the village to save it", doesn't it?
The Republican party apparently has fond memories of the last time they shut down the government.. which you know, plunged the GOP into such a hole it took them the better part of two decades to climb out of.
I imagine the "negotiations" are something like this.
House GOP: Nice recovery you have here. Shame if something happened to it. Give us a trillion in domestic cuts over the sequester or we'll crater the nation.
Obama: Here's my offer. Zero.
House GOP: What? That's not an offer. For that, it's going to take 1.25 trillion, or the economy gets it.
Obama: And here's my counter offer... Nothing.
House GOP: (sweating) Man, you think we're going to chicken out again.. Right.. tha.. that's it. 1.5 Trillion, or we shut down everything.
Obama: Well, tell you what, I'll increase my offer 10%.
House GOP: (looking relieved) Really?
Obama: Of course, Nothing plus 10% is, 110% of Nada. Zip. Zero. Zilch.
House GOP: RIGHT! That's it. (prepares to shoot the economy)
Wall Street yanks back on the GOP leash: Well now, let's not be hasty here...