Boehner, Boned
ElectricFetus said:
It should be pointed out that if the goverment shuts down that has nothing to do with default, which is like two weeks later, default is a whole different fight.
It is worth noting that there is a compelling thesis hoping that a government shutdown will sort of get this poison out of their systems long enough to get through the debt ceiling, because, well, that is a much, much worse fight to drag out.
A shutdown, after all, is just bad for the economy. A default is catastrophic for it. You'd have to be insanely reckless to permit the federal government to default on its debts. And Boehner believes that House Republicans are insanely reckless and that President Obama isn't ....
.... Moving the one-year delay of Obamacare to the CR maximizes the chances of a shutdown but makes a default at least somewhat less likely. If a shutdown begins Monday night, Republicans and Democrats will have more than two weeks to resolve it before hitting the debt ceiling.
As Alec Phillips put it in a research note for Goldman Sachs, "If a shutdown is avoided, it is likely to be because congressional Republicans have opted to wait and push for policy concessions on the debt limit instead. By contrast, if a shutdown occurs, we would be surprised if congressional Republicans would want to risk another difficult situation only a couple of weeks later. The upshot is that while a shutdown would be unnecessarily disruptive, it might actually ease passage of a debt limit increase."
One way a shutdown makes the passage of a debt limit increase easier is that it can persuade outside actors to come off the sidelines and begin pressuring the Republican Party to cut a deal. One problem in the politics of the fiscal fight so far is that business leaders, Wall Street, voters and even many pundits have been assuming that Republicans and Democrats will argue and carp and complain but work all this out before the government closes down or defaults. A shutdown will prove that comforting notion wrong, and those groups will begin exerting real political pressure to force a resolution before a default happens.
(Klein)
This, of course, is excluding the explicitly preferred outcome, "if there was no shutdown and no default and House Republicans stopped trying to enact an agenda that lost at the polls by threatening the country". But that's the thing. Klein's thesis presumes "real political pressure" would have a useful effect on a caucus that may be insanely reckless in its determination to accomplish its agenda. Well, how insane is insanely reckless? Isn't that sort of like the glowering mysterium? The Doomsday Oracle of Absurdity? My daughter's loathsome Magic Date Ball might be as reliable as any properly skilled punditry on that question. It's the all-the-money-in-the-world question.
As with your article from Green. The vital variable, the make or break multiplier is the positive or negative value of the effect of ... well, in Green's case, I'm not certain what the device is. He seems to treat shutdown and default as an either/or proposition. There is absolutely no reason why we should presume House Republicans, having accomplished a shutdown with their CR fight, would not proceed to attempt a default standoff. And in trying to find that device, we run into the same problem Klein faces. Real political pressure, as such, might only make things worse. Remember how much of this range of the right wing has a victim complex. As those outside actors get involved, who would really want to wager that this faction
wouldn't cry persecution and rally their base? If it was all of five bucks one way or another, sure. But there's a bigger stake that you or I can't cover, so ... right.
Maybe the ghost variable, the invisible hand, is John Boehner. Some part of him
must know that his entire political legacy is at risk. I mean, sure, I might be rather quite critical of the (
ahem!) Speaker In Name Only, but he ain't dead yet. Whether he is the worst Speaker ever is at least arguable, but by no means conclusive. If
his House of Representatives pushes this country into default, it might be a century before the Republicans get the keys back, and it will
all be on him. He won't just be the worst Speaker ever; he will be
infamous in political history. Even setting aside his own ego, such an assessment conveys the magnitude of the challenge before him.
Will House Republicans breach the hull of the ship of state? Are they prepared to attempt to destroy the Republic in order to prove that government doesn't work?
How ... crazy ... are ... they ...?
Do we really want to find out?
That is the challenge facing Speaker Boehner.
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Notes:
Klein, Ezra. "The House GOP's shutdown plan is great news". Wonkblog. September 28, 2013. WashingtonPost.com. September 29, 2013. http://www.washingtonpost.com/blogs...8/the-house-gops-shutdown-plan-is-great-news/