House Republican Ted Yoho (FL), a member of the treasonous Tea Party that is driving this Republican Shutdown and Debt Default, said this yesterday about the affects of a debt default.
“I think, personally, it would bring stability to the world markets.”
Morons. These traitors are literally morons.
And for the record, the world’s markets disagree violently with that assessment from the Teabagger.
Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.
Failure by the world’s largest borrower to pay its debt — unprecedented in modern history — will devastate stock markets from Brazil to Zurich, halt a $5 trillion lending mechanism for investors who rely on Treasuries, blow up borrowing costs for billions of people and companies, ravage the dollar and throw the U.S. and world economies into a recession that probably would become a depression. Among the dozens of money managers, economists, bankers, traders and former government officials interviewed for this story, few view a U.S. default as anything but a financial apocalypse.
If this happens, if these traitor Republicans do this, public hangings, firing squads and guillotines will make a comeback.
Meanwhile, Speaker Boehner said he did not have the votes to open the government. That was, of course, a lie. The following Republicans are already on record saying they will vote for a clean CR:
Rep. Pat Meehan (R-Pa.): “At this point, I believe it’s time for the House to vote for a clean, short-term funding bill to bring the Senate to the table and negotiate a responsible compromise.” [Press Release, 10/1/13]
Rep. Scott Rigell (R-Va.): “Time for a clean [continuing resolution].” [Official Twitter, 10/1/13]
Rep. Jon Runyan (R-N.J.): “Enough is enough. Put a clean [continuing resolution] on the floor and let’s get on with the business we were sent to do.” [Burlington County Times, 10/1/13]
Rep. Mike Fitzpatrick (R-Pa.): A Fitzpatrick aide tells the Philadelphia Inquirer the congressman would support a clean funding bill if it came up for a vote. [Philadelphia Inquirer, 10/1/13]
Rep. Lou Barletta (R-Pa.): Barletta said he would “absolutely” vote for a clean bill in order to avert a shut down of the government. [Bethlehem Morning Call, 10/1/13]
Rep. Peter King (R-N.Y.): King thinks House Republicans would prefer to avoid a shutdown and said he will only vote for a clean continuing resolution to fund the government, according to the National Review Online. [NRO, 9/30/13]
Rep. Devin Nunes (R-Calif.): The California Republican told The Huffington Post he would ultimately support a clean continuing resolution. [Tweet by The Huffington Post's Sabrina Siddiqui, 9/30/13]
Rep. Charlie Dent (R-Pa.): “I’m prepared to vote for a clean [continuing resolution].” [The Huffington Post, 9/29/13]
Rep. Frank Wolf (R-Va.): A Wolf aide told The Hill that he agrees with fellow Virginia Rep. Scott Rigell (R) that it’s time for a clean continuing resolution. [The Hill, 10/1/13]
Rep. Michael Grimm (R-N.Y.): A Grimm aide told The Huffington Post that the congressman supports a clean continuing resolution. [10/1/13].
Rep. Erik Paulsen (R-Minn.): A local news anchor in Minnesota tweeted that Paulsen told him he would vote for a clean resolution if given the chance. [Blake McCoy Tweet, 10/1/13]
Rep. Rob Wittman (R-Va.): A constituent of Wittman’s sent The Huffington Post an email she got from the congressman indicating he would vote for a clean funding bill but hasn’t had “an opportunity to do so at this point.” [10/1/13]
Rep. Frank LoBiondo (R-N.J.): LoBiondo told The Press of Atlantic City he’ll support “whatever gets a successful conclusion” to the shutdown and a clean funding bill “is one of those options.” [The Press of Atlantic City, 10/1/13]
Rep. Randy Forbes (R-Va.): Forbes told The Virginian-Pilot that he supports the six-week clean funding bill that passed in the Senate. [The Virginian-Pilot, 10/2/13]
Rep. Jim Gerlach (R-Pa.): The congressman issued a statement saying he would “vote in favor of a so-called clean budget bill.” [Office of Rep. Jim Gerlach, 10/2/13].
Rep. Leonard Lance (R-N.J.): Lance’s chief of staff confirmed to The Huffington Post that he told a constituent on Wednesday that Lance has voted for clean government funding bills in the past “and would not oppose doing so again should one be brought to the floor.” [10/2/13]
Rep. Mike Simpson (R-Idaho): Simpson told a Roll Call reporter Tuesday night, “I’d vote for a clean CR because I don’t think this is a strategy that works.” [Daniel Newhauser Tweet, 10/1/13]
Rep. Bill Young (R-Fla.): Young told Tampa Bay Times reporter Alex Leary that he’s ready to vote for a clean funding bill. “The politics should be over,” he said. “It’s time to legislate.” [Alex Leary Tweet, 10/2/13]
Rep. Mario Diaz-Balart (R-Fla.): The congressman told Miami Herald reporter Marc Caputo that he would vote for a clean funding bill, provided it has the same funding levels contained in the Senate-passed bill. [The Miami Herald, 10/2/13]
Rep. Richard Hanna (R-N.Y.): “I would take a clean (continuing resolution).” [Observer-Dispatch, 10/2/13]
Rep. Rodney Davis (R-Ill.): A Davis constituent tells The Huffington Post that a Davis aide told him Wednesday, “Congressman Davis is prepared to vote ‘yes’ on a clean CR.” Asked for comment, Davis spokesman Andrew Flach told HuffPost that Davis isn’t “going to speculate” on what bills may come up in the House and “will continue to vote for proposals brought to the floor that will fund the federal government.” [10/2/2013]
Rep. Tim Griffin (R-Ark.): Asked on Twitter if he would support a clean funding bill if it came up for a vote, Griffin tweeted, “sure. Ive already said i would support.” [Official Twitter, 10/2/13].
The one good thing about this coming apocalypse is that the GOP will lose the House. Public Policy Polling conducted surveys in 24 individual House districts held by Republicans that are considered most competitive right now. The Democrats need to win 17 of these seats and hold all of their own to gain the majority. Right now, the Dems will win 17 of the 24 races, and are tied in two others. So if the election were held today, the Dems would be back in the majority.
E.J. Dionne on what is hopefully the tea party’s last stand:
If the nation is lucky, this October will mark the beginning of the end of the tea party.
The movement is suffering from extreme miscalculation and a foolish misreading of its opponents’ intentions. This, in turn, has created a moment of enlightenment, an opening to see things that were once missed.
Many Republicans, of course, saw the disaster coming in advance of the shutdown. But they were terrified to take on a movement that is fortified by money, energy and the backing of a bloviating brigade of talk-show hosts. The assumption was that the tea party had become invincible inside the GOP.
Paul Krugman on how the GOP planned this shutdown and debt default for 9 months:
Early this year, it turns out, some of the usual suspects — the Koch brothers, the political arm of the Heritage Foundation and others — plotted strategy in the wake of Republican electoral defeat. Did they talk about rethinking ideas that voters had soundly rejected? No, they talked extortion, insisting that the threat of a shutdown would induce President Obama to abandon health reform.
This was crazy talk. After all, health reform is Mr. Obama’s signature domestic achievement. You’d have to be completely clueless to believe that he could be bullied into giving up his entire legacy by a defeated, unpopular G.O.P. — as opposed to responding, as he has, by making resistance to blackmail an issue of principle. But the possibility that their strategy might backfire doesn’t seem to have occurred to the would-be extortionists.