The news media is having a ball scaring hell out of everyone saying only a handful of days until their is a possibility of the government shutting down if Congress doesn’t raise the debt limit.
Republicans in the House are threatening not to support raising the limit unless Congress agrees to unfund Obamacare, like the President is going to sign that bill.
We’ve been down this road with the Republicans before, with the exception of one time the Republicans have given in. The one time Republicans did shut down the government, causing people not to receive their benefit checks, vendors not being paid; as a result the economy suffered and the voters responded in the next election by soundly defeating the Republicans with them losing control of both Houses.
This time around, after a severe recession, the economy is slowly rebounding, however corporate America is having a field day with record profits which is being reflected in a record stock market making people who are rich richer.
Given this scenario, another government shut down at this time will severely set back the economy which will result in more loss of jobs, less corporate profits and a slump in the stock market.
Forty members of the Tea Party in the House appear to be the culprits who have this lame brain idea of shutting down the government, and eliminating the Healthcare Act. On the surface they will tell you they are anti-big business, smaller government which is what they campaigned on to get elected.
But Federal Campaign Finance Reports shows they received millions in political donations from Wall Street Bankers and large corporations. So in the short run who do you think will influence their vote to raise the debt limit?