Business Lobby Realizes Too Late That They Created A Monster By Backing The Tea Party

[Katashi_itto]

The business lobby built themselves a Frankenstein monster and now the monster has run away without it. The monster is, of course, the GOP-dominated House of Representatives. The Tea Party faction that business interests worked so hard to support is threatening the health and wellbeing of its big-money sponsor. Its tools are the federal shutdown and the possibility of a governmental default. Talk about biting the hand that feeds you!

Gerrymandering Backfired On The Business Lobby
According to the New York Times, the U.S. Chamber of Commerce and other interests within the business lobby recently spent millions on the effort to gerrymander Congressional districts. The goal was to create safe districts for the GOP. The effort was so successful that now even moderate Republicans have little chance to unseat the extreme, ideological Congressmen that were the result. The Chamber, alone, spent $32 million backing its choice of candidates around the country in 2012. What have they gotten for their money? A Tea Party inspired shutdown that is costing the economy $300 million a day.

The business lobby had the idea that Republican control would mean the scaling back of regulation. Less regulation would allow them to grow like wildfire. Instead, many are looking at cutting back out of fear that the shutdown and a possible default will put the country into another recession. A crimp has been put in markets in almost every conceivable way. For instance: no loans for mortgages? The construction industry suffers. So do the manufacturers of plumbing, electrical, roofing, etc., supplies. So does the furniture industry. And the home decorating industry. The ripples just keep spreading outward. But, hey, with all the layoffs, who can afford to buy a house anyway?

Republicans Are The Anti-Government Party
As one business lobbyist, Robert Shapiro, told Business Week:

Republicans are not the party of business anymore. They’re the party of antigovernment.

Wall Street has been slow to catch on, reassuring themselves that a default won’t actually happen. Somehow, they, and their business lobby, have deluded themselves into believing they won’t experience any fallout from the shenanigans of the House. The Potomac Research Group, which provides policy analysis to ‘institutional investors and private equity firms’, has been trying to wake them up to the danger. Analyst Greg Valliere wrote this message to clients on Wednesday:

We talked to Tea Party stalwarts last night, and tried to make our best arguments. “Don’t you realize the Republicans could lose the House in 2014?” We don’t care, they said. “Don’t you worry about a catastrophic reaction in the financial markets?” We don’t care, they said. “Don’t you worry that the Democrats will aggressively play the Social Security card with seniors?” We don’t care, they said.

http://www.addictinginfo.org/2013/10/10/business-lobby-lost-republics/

[CaliforniaPeggy]

1. I'm trying to work up a little sympathy for the business lobby...

How am I doing?

[Katashi_itto]

3. hahah! I have none for them either. I am hoping it costs them 100s of billions.

[B Calm]

2. I like to thank them for helping get the tea baggers in office!