The Tea Party would be the Republican's achilles' heel except that the Republicans compare more favorably to Cobra Commander than they do to Achilles at this point, which I suppose would make the Tea Party their Cobra Commander's heel, then. Their latest bone to pick is the debt ceiling debate. Basically, the Republicans are threatening to vote down the bill to raise the debt ceiling unless the Democrats increase cuts in spending (but only cuts in programs Republicans don't like are actually to be considered 'cuts', it would seem). but its kind of a sham because the non wingnut Republicans know that to not raise the debt ceiling is to invite disaster. But the Tea Party, the albatross around the neck of the Republicans that we always knew they would be, is entrenching on this one, saying that they will never vote to raise the limit. This hurts the Republicans because they are trying to wring concessions out of the Democrats, and America because if this debt ceiling is not raised, bad things will happen. Behold:
You do not want to suggest to the markets in any way you’re going to default,” Conrad told reporters after appearing at a Washington policy summit. “That could have very serious consequences on interest rates.”
Just higher interest rates? That doesn't sound so bad does it?
As I have written previously, default by the United States on its obligations would have a catastrophic economic impact that would be felt by every American. A broad range of government payments would have to be stopped, limited or delayed, including military salaries, Social Security and Medicare payments, interest on debt, unemployment benefits and tax refunds. A default on the Nation’s legal obligations would lead to sharply higher interest rates and borrowing costs, declining home values and reduced retirement savings for Americans. Default would cause a financial crisis potentially more severe than the crisis from which we are only now starting to recover. - Tim Geithner in a letter to John Boehner
Oh. That sounds bad. Is the Tea Party worried about defaulting on our debt? Heck no!
With TV ads, petitions and grassroots lobbying, tea party organizers are gearing up to send an absolutist message to Capitol Hill: Don’t raise the debt ceiling under any circumstances. Tea party activists have already clashed publicly with some of the 87 GOP freshmen they helped elect last year, and they’re warning that Republicans who don’t keep their fiscal promises will pay a political price.
Maybe if they bring financial ruin to the entire country and a second Great Depression they will feel as though they have made their point.
