But no. These Republicans are facing reelection, and we all know that being reelected is far more important to them than having a showdown with President Obama of real substance,
And even if the Republicans in the House, who have a majority mainly because of all the hot air they bellowed out in 2010 about taking just such bold actions, were to actually do so, they would cause panic.
That's because Wall Street is about as in touch with the real world as Dick Nixon in his months in office. The economy is still sputtering, and the average bloke hasn't felt any real extra coin in his pocket. But, hey, this market is bulletproof and should just keep charging like a bull, right?
What would all those silk-stocking experts on Wall Street do if those unwashed and ghastly conservatives in Congress stood up to President Obama and refused to raise the debt ceiling? We all know that S&P had the nerve to downgrade U.S. credit a few years back, and look what the Obama Justice Department is doing to them. And heavens forbid the markets get spooked for a few weeks and stocks fall to where they should be versus their overvalued current status. Wall Street would shriek.
We will find out if the GOP that won the House in 2010 still has any courage in the next few weeks. But I'm betting on the silk-stocking crowd and the president who sees only his perfect reflection in the mirror. And the debt just keeps on growing.
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