House Republicans squander their leverage & jam themselves - again. http://washingtonexaminer.com/house-gop-became-own-worst-enemy-in-battle-over-spending-and-debt/article/2537307 …
@Jstoner64 of course: Prob is O'care hate never translated into defund/shutdown support.Nvr. And default is possible & most Rs believe that.
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@DavidMDrucker on Average, monthly Revs 10x Debt service, not to mention ability to make deal with Fed Holdings. Default voluntary. -
@Jstoner64 Default is real if markets say it's real. AND no one who understands govt finances agrees w/ you. I mean nonpartisan types. -
@DavidMDrucker It's not rocket science. The Revs surpass Debt Service 10:1...and then there's the fact the the Fed holds $2 Trillion. -
@Jstoner64 Let's assume you're right. Because I'm fine w/ that: Then there is no leverage on the debt ceiling to negotiate anything. -
@DavidMDrucker the White House's leverage was in fear mongering. The House would have been wise to dispel & slow the pace. -
@Jstoner64 OK. But my point is, if the default is a myth then no reason for Obama to ever give them anything to raise it. -
@DavidMDrucker that's exactly what he gave them, nothing. But they should have known that and held out. They caved over fear of perception. -
@Jstoner64 perception is reality & they were getting pummeled in the polls. They were losing & would have lost worse. - 2 more replies
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@DavidMDrucker At some point O would have to decide to eat crow on non-default, or agree to a reasonable, popular, request to delay mandate. -
@Jstoner64 Why do you think that? Only has to do if voters are against him. And because of shutdown, even popular mandate idea was tainted
End of conversation
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