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EXPLANATORY JOURNALISM: The TerryReport
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News, commentary, opinion on politics, government, books, social trends, American life, travel, cycling, books, other stuff
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Over the past weekend, it looked like the usual twist and turns of Washington maneuvering would result in some sort of deal to reopen the government and avoid default. Now, the pendulum has swung the other way. The chances of default, now, look to be above 80%, perhaps even about 90.
The far right, tea party inspired Republicans in the House, who are mainly a bunch of new comers to elective office and who came to DC in 2010 and 2012 promising to do anything to stop Obama and his health care changes have gone very far out on a delusional limb. They now actually believe that they are “winning” as default approaches and the government remains closed. Here is a clip from a Washington Post story:
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Rep. Andy Harris (R-Md.) said conservatives have succeeded in exposing problems with the health-care law.
“Oh my gosh, we’ve lit up Obamacare for the whole nation,”€ť he said, describing what his wing of the party had won in the shutdown. “Look, the rollout was atrocious, this is a fundamentally flawed plan, and we have made it crystal-clear to the American public that we stand with them on Obamacare.”
That attitude illustrated a split within the GOP that has only grown more profound in the days since the shutdown started: Hard-liners are sure that their position is gaining strength, while moderates and a number of Republican leaders counter that the party has experienced an epic collapse.
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In the normal course of things, just days away from default, this would be the time for seriousness, a time for members of Congress to get a little scared for themselves and their nation about what might happen if there were a default. Instead, they are hardening their positions and repeating over and over that default will not be cataclysmic. The call “Man the lifeboats!” has already gone out, they’ve ordered themselves fresh drinks and a meal. We are in deep trouble.
A lot of this appears to be happening because of Heritage Action and other outside groups. The 31 year old head of Action, Michael Needham, is telling his like minded supporters in the House not to worry, everything is going to be fine. He thinks Obamacare is a more important issue than default and the delusional, fresh faces in the House are going along with him.
This is too big a risk to take for any ideological program. By this time next week, the world could be in a massive financial crisis or headed that way within a few more days. Without borrowing power and without a fully functioning government, President Obama’s hands, while not tied, would be moving slowly. His options would be very limited, at least until a real crisis developed and, perhaps, enveloped the world. If the Republicans in the House want a real crisis and to send the nation back into deep recession, they might get that wish, very soon.
Doug Terry, 10.15.13
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From the Wall Street Journal:
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Mr. Needham thinks, by the way, that the stalemate may drag on well beyond Oct. 17, the day the U.S. Treasury may reach the federal borrowing limit. He has little problem with the latest strategy to pass a temporary debt-ceiling extension, viewing the debt-default debate as a distraction from the battle over the future of ObamaCare funding.
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