Debt Ceiling Panic Blame begins with reckless GOP House leaders, not “rebellious” freshmen Representatives


Everyone keeps saying that this is happening because these Tea Bagging, Freshmen “outsiders” aka Republican Representatives are bucking against the way Washington works. It’s not so. Boehner, Cantor and the GOP house leadership fomented this economically destructive stupidity with approval of their political donors and now are having a hell of a time getting their caucus to fall back in line:

An intensive endgame at hand, Republican leaders abruptly postponed a vote Thursday night on legislation to avert a threatened government default and slice federal spending by nearly $1 trillion.

“The votes obviously were not there,” conceded Rep. David Dreier, R-Calif., after Speaker John Boehner and the leadership had spent hours trying to corral the support of rebellious conservatives.

Just over a week ago, Darrell Issa said that the threat of default is imaginary…

We should not be having a discussion with a artificial deadline of August 2nd, set by the President so the President can extort a deal through his reelection period. That’s not right, it’s not what the American people expect us to do.”

Sen. Jim DeMint (R-SC) piled on Tuesday, saying, “The president needs a crisis to blame us for the economy that he’s made worse.”

Darrell Issa: Debt Deadline Is ‘Artificial’ Date Obama Is Using To ‘Extort’ A Deal From Congress | ThinkProgress.

Boehner’s tact is not a Wall Street by surprise. In May, he told Wall street that his approval of a debt ceiling increase would be saddled with three demands:

1) “Without significant spending cuts and reforms to reduce our debt, there will be no debt limit increase. And the cuts should be greater than the accompanying increase in debt authority the president is given. We should be talking about cuts of trillions, not just billions.”

2) “They should be actual cuts and program reforms, not broad deficit or debt targets that punt the tough questions to the future.”

3) “With the exception of tax hikes — which will destroy jobs — everything is on the table. That includes honest conversations about how best to preserve Medicare.”

Rep. Jeb Hensarling spoke in May was clear about this the GOP demands for spending cuts to be greater than the amount of debt ceiling increase:

Before Tuesday’s vote, Texas Republican Jeb Hensarling, chairman of the House Republican Conference, said the vote will show that Congress won’t raise the debt ceiling without cutting more spending.

“It’s an important vote to have to show the president that is not where Congress is, it’s not where the American people are,” he said.

via House Rejects Debt Limit Increase Without Cuts : NPR.

Walking out of negotiations or refusing to work towards progress was not borne of the new Tea Party faction either? Majority Leader Cantor led that behavior:

The breakdown was set off by the surprise decision of Representative Eric Cantor of Virginia, the House majority leader and one of two Republicans participating in sessions led by Vice President Joseph R. Biden Jr., to quit the negotiations.

So when you read stories about Boehner and Cantor telling Tea Baggers Representatives to bite the bullet and vote for their deal, mind you they are trying to pull Tea Baggers back from from where they led them.

All the deals being debated and voting on now satisfy GOP demands. There are no revenue demands. Obama now only has one demand: make the debt limit increase extend to the end of 2012 so that the US’s credit rating doesn’t get downgraded under the threat of more debt ceiling negotiations 3 to 4 months from now and 6 months again afer that. Boehner, Cantor and the GOP leadership have already walked their caucus passed accepting this clearly GOP leaning legislation and a political win and their troubles getting Tea Baggers to vote for their legislation in the House is borne of their own irresponsible leadership.