Republican Posture on Debt Ceiling Is Borderline Treasonous

The overwhelming consensus on what will happen if there is a failure to raise the debt ceiling is that the full faith and credit of the U.S. will be at least temporarily compromised. This will in turn result in a short term default on our nation's bond obligations. This, in turn, will minimally result in higher interest rates for any future borrowing by the U.S. It will also cause higher borrowing rates and a lack of availability of credit for U.S. consumers and businesses -- the last thing we need in the middle of a huge economic downturn; an inability to pay government expenses and provide necessary government services; and a huge stock market swoon. It will mean sharply lower IRA and 401K values; higher Medicare costs; and more job layoffs due to an inability to pay government salaries. Potentially, even our servicemen and women's paychecks will be affected.

If this happens, it will be totally due to a manufactured "crisis" engineered and fomented solely and unnecessarily by a bunch of Republican ideologues who have no sense whatsoever of the concept of "national welfare" "shared sacrifice" or "the general commonweal."

To not vote to raise the debt ceiling under these circumstances is the height of irresponsibility. I think it is arguably treasonous in the sense that it will purposely inflict serious economic harm on the entire U.S. citizen body unnecessarily and for only crassly selfish and cynical political ends.

I just hope that if it happens, the voting public will realize whom to blame.

From Steve Benen's latest in another thread:

Americans almost certainly can’t appreciate the extent to which they’ve made a tragic mistake. Voters perceived the Republican Party has a conservative governing party, capable of responsible center-right governance, and rewarded the GOP handsomely in 2010. What voters probably didn’t understand are the similarities between today’s Republican Party and a not-terribly-bright organized-crime family, run entirely by petulant children.

We're in new territory now.

It is two separate issues

Unheeded pleadings as we are stuffed into the weighted bag like too many unwanted kittens.

It is the same politically expedient posture that our side took just a few years ago... We have GOT to get people in Washington to quit playing politics with the nation's future!

Thee fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership . Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.”

Barack Obama March 16, 2006.