This movie has that double-suspense thing going on. The first deadline passes and bad things happen but the second deadline is when Armageddon hits.
Last week I suggested that the Members of Congress “grow up.”A former colleague of mine used the phrase “grow a pair!” And she was more right Last week I was thinking that Speaker John Boehner was trying to do all the right things –
short of losing his Speakership. I worry that without Boehner, the crazies really will be in control. But they seem to be now. And maybe Boehner should go “all in,” as the latest popular saying goes, say “enough is enough” and put on
the floor the kind of legislation that allows our government to continue and puts the debt limit debate – the one that could lead to financial Armageddon –- behind us. That legislation probably can pass with a bunch of Republican AND
Democratic votes. Why does either caucus have to be 100 percent behind something to pass it?
I am not familiar enough with the rules of the House to understand what happens if folks want to oust Boehner, but I’m guessing even if they want to, the Speaker – and the parliamentarians who do understand those rules – can figure out how to keep him. Yes, keep him. My belief is all that’s been standing between us and worse stuff from the House is John Boehner. Picture the House with Eric Cantor running it. Yes, for some, it’s a choice between worse and worse-er. Well, Isn't all politics? I’ve long believed that Boehner is a good man, an old-style pol who would rather make a deal than witness a disaster.
Maybe, though, it’s time he stop worrying about his future, and worry about the country – and the world’s future – if the USA defaults. You thought the last recession – the one that really isn’t over yet – was bad? Wait and see what happens if the USA defaults. The markets collapse, interest rates zoom up, businesses stop investing -- as if they are really investing now –- and the dollar crumbles.
My broker advised me last week to hold my position, “where can you put your money where it’s safe?” he asked. I said, “Cash?” He said, “if the USA defaults, cash won’t be worth anything either.”
Who’s going to ride in and save the day? Someone has to, don't they?