The house of representatives has adjourned for the night. Not normally a big deal at 11:00pm on a thursday night, not exactly a reason to write about anything, but tonight is different. The house vote on the debt ceiling deal was supposed to happen tonight. It was delayed for hours before the house decided to call it a night and try again tomorrow.
The reason for the delay? Simple. John Boehner has not been able to get a consensus amongst his own people large enough for the vote to pass through the congress. And if the bill can’t get out of the house, it can’t go to the senate for a vote, to get shot down and changed by the senate to create a more signable, if not passable bill. And if the bill that comes back has more in the way of revenue increases, or the cuts aren’t deep enough, it might not survive a vote after the senate gets a signable bill back to the house for a final round of votes…
It is a labryinthine maze that it must run through, filled with intrigue and horsecrap. John Boehner can’t get his own people to follow his lead, in the moment when he needs them to follow that lead to show a unified face to the nation. And even if he can get the 4 or 5 votes more that he needs to pass this version of this bill, how will he be able to hold that semi-consensus together for the stronger round of cuts the Democrats in the Senate will send back to them?
My guess, and I am not the only one saying this, is that he might not be able to. He will need the democrats during the second round of votes, because his own base, as it has here already, will abandon him. The tea party has it’s own agenda, and it is not necessarily Pro-America, and it is not necessarily pro-business, nor is it Pro-anything. It simply hates government, and it is in government, so it’s sole job is to implode the government.
For those who voted tea party in 2010, you asked for this, whatever “this” that happens next. If this thing goes worst case scenario, and there is no guarantee that it will, but if it does, and you dislike the results in our economy, you have no one but yourselves to blame. Any damage that happens is directly your fault.
I’m sure thoughts like that keep them warm at night.
BTW, the market saw this happen and the futures market tanked. Hope you guys like market volatility, you’re gonna get some. And much of the market thinks, according to what I can tell from listening to bloomberg radio, that the Boehner bill is at once too small and too much of a political football, and it won’t help things.
I’ll write to you later, America. G’night!