>Democrats DO NOT need negotiate on Debt Ceiling

04/17/2011

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As I stated in another post Republicans will NOT allow the US to default because the day after the US Defaults on it’s debt Wall Street would cease to exist. The default would destroy the assets of the major banks sending Wells Fargo , Bank Of America and the rest into bankruptcy. The shareholders of the Wall Street banks would be wiped out and their top executives jobless. If you believe the Republicans would allow their biggest donors be destroyed in such a way you’ve not been paying attention.

Sen. John Cornyn (R-Texas) said the following on the 10th

“I think we have more leverage on the debt ceiling,Because unless  51 Democrats want to vote to raise the debt ceiling and all the Republicans vote against it, they’re going to have to give us something in the way of a systemic reform.”

  The goal here is to scare congressional Democrats into making absurd concessions like they’ve been doing for the last three years. When are Democrats going to wake up and realize that Republicans don’t have a good hand they simply have a damn good poker face? It’s time Democrats call their bluff and simply allow them to look like the hypocrites they are.

  Isn’t it amazing that after holding out to the very last second Republicans ended up voting on the original deal concerning a possible Government shut down? In fact Democrats didn’t need to concede the 38 Billion. Top Republicans had absolutely no intention of allowing a government shut down just like they will not be caught not voting to raise the debt ceiling.

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