Republicans Are Really Going To Crash The American Economy This Time

[Celerity]

If you think this will be a replay of 2011, where Republicans walked right up to the line and then backed down, that is not a bet I’d be willing to take.

https://thebanter.substack.com/p/republicans-are-really-going-to-crash

https://archive.ph/NCZqI



I had to explain to my daughter Anastasia last week that there’s a very good chance she won’t be able to go to drama camp this summer because we have to save up as much money as possible in case Republicans explode the economy and then shut down the government again a few weeks later. She’s upset but she remembers how bad it got when her mom stopped being paid for over a month four years ago because Trump threw a temper tantrum.

There was no way to sugarcoat it for Anastasia and there is no way to sugarcoat it for you, either: Republicans are going to do everything humanly possible to crash the economy this summer and again going into the fall. Either attempt is bad news on its own. If they manage to pull off both, it would be catastrophic and the GOP has an awful lot of incentive to go for the gold here. I’m going to explain why this is horrendous scenario is inevitable, and more importantly, what we can do about it. Because we need to get ready, and fast.

Why would they do that?

Normally, they wouldn’t go all in on this level of economic destruction, and in the past they haven’t. Republicans usually threaten to crash the global economy, but costing their morbidly rich donors trillions of dollars is bad for business so they relent. However, to the extremists controlling Speaker-in-name-only Kevin McCarthy, the only thing worse than crashing the world economy is another four years of Democrats being in power. Next year is a presidential race and Republicans have exactly two candidates of note: Donald Trump and Ron DeSantis. Neither is particularly exciting. Trump is under so many serious criminal investigations, the likelihood that he will go to prison or flee the country goes up by the day. He’s also a worn-out and, ahem, “low-energy” shadow of his former showman self. I guess adderall can only perk you up for so long?

DeSantis is younger and full of energy. Short, whiny energy. Florida loves him but he’s not exactly the swaggering manly Hollywood-esque studmuffin the GOP base demands. Also, he’s terrible outside of his protective media bubble and it’s impossible to avoid the national spotlight in a presidential race. Matched up against Biden the incumbent, a know quantity with a broad coalition of support, they are not going to fare well and Republicans know it. The planned Hunter Biden smear campaign is a long shot that could very well backfire. The Biden documents “scandal”, at best, will soften the blow for Trump’s criminal theft of nuclear secrets. It certainly won’t be enough to wreck Biden’s re-election. Barring some new massive scandal, something Biden has been very careful to avoid so far, Republicans are going to have to run on externals like the economy, immigration, or Covid. None of which are likely to do well given the current trajectory of the country.

snip

[Buckeyeblue]

1. I don't think they have a big enough margin to pull this off

It will only take a few Republicans to say no way and this strategy won't work.

I also think Democrats have enough time to get out in front of this. I think public opinion can and will turn against the House crazies.

[Martin68]

2. Although there is an outside chance you are right, the GOP has exhibited the same behavior for

years. So far, they have done nothing but back down and lose votes and credibility. If they do step off the ledge, the consequences will be severe, but the U.S. will survive. The GOP won't.

[rso]

3. Debt

There are more than enough moderate, Wall-street and Corporate-owned republicans to join democrats on this issue via a discharge petition on the house floor.

[cbabe]

4. Thinking their dark money overlords will put the brakes on? Crashing

Wall Street doesn’t seem like a prime time move.

Granted richies can hunker down, short sell, fly away.

But there are more of us than them.

Servants and secretaries can rise up.

Richies are not stupid. They know this.

[MarcA]

5. I am concerned about what Grand Bargains will be made.

Defaulting on the Debt and crashing the economy, not so much.

[TheRealNorth]

6. +1

There will be a lot of Corporate and MSM fear mongers pushing Democrats to cave to Republican demands.

[TheBlackAdder]

7. Even more countries will abandon the USD. More than after the 2008 collapse.

[gab13by13]

8. Doesn't the Rules committee,

have the say on what bills make it to the floor? Can't they simply not bring the bill to the floor that raises the debt ceiling?