Senator Sanders says that not raising the debt ceiling will hurt wall street the most, which means

[grahamhgreen]

The Repubs will NEVER let it happen.

Wall street will never let them vote against raising the debt ceiling.

Which means we have them over a barrel.

Which means the compromise 2012 budget should be between the Presidents proposal and the "people's budget".

We can ignore the teabaggers on this one, IMHO, their corporate masters will force them to vote with us.

[dkf]

1. So now it's to the lefts advantage to shut down the government so they can harm wall street?

The guy is crazy if he is suggesting this and is just as unserious as the Repubs.

[grahamhgreen]

2. No, the Point is the debt ceiling will be raised - we can pass any budget we want.

[dkf]

7. Well as long as the house is full of tea partiers I doubt we will get what we want.

[grahamhgreen]

11. The old school Repubs will be forced to vote with us and break from the teabaggers,

because that is what their corporate masters will order them to do.

Wall street, and the ultra-rich, can not afford to keep the current debt ceiling.

Geithner also agrees. "Congress will pass an increase in the debt limit," Geithner told PBS Newshour.

We have a lot of room to maneuver here. Sticking together, negotiating between Obama and the Progressive Caucus will fracture the Republican party.

As Dave Emmanual puts it:

"If the government subsequently admitted that it would be unable to meet some of its obligations,then confidence in the United States would evaporate overnight, leading to a massive crash in the dollar, dramatically higher interest rates (due to a loss of creditworthiness) and a crash in equities markets. The shock would quickly spread throughout the world and would very likely lead to a serious global recession, possibly worse than the one seen a few years ago.

In short - not coming to an agreement regarding the debt ceiling in the country would be suicidal for the nation's short-term financial well-being.

In the end, the debt ceiling will be raised. It will just be interesting to see how far this ends up going before a deal is finally reached between the two parties. Nobody wants to be known as the party who ended up being responsible for the country defaulting on some of their obligations, as that would be absolutely disastrous." http://www.davemanuel.com/what-is-the-debt-ceiling-94/

[TheKentuckian]

16. What choice do they have? Their hand is overplayed.

Now is the time to raise the ante till they fold.

[bobbolink]

19. I'm sure that's gonna happen.

Folding is their best thing.

You can't be elected as a Dem unless you know how to fold.

"I have more experience with folding than my esteemed opponent!"

[koffeekup]

3. I disagree with him - wall street buys & sells, it doesn't hold securities

With no debt ceiling wall street brokers will be making hay buying bonds and reselling them, just like used car salesmen never seem to lose money buying and selling used cars no matter what the market is saying they are worth. They aren't going to buy a bond to see it depreciate in value. They don't get paid millions each to make wrong decisions.

[Ikonoklast]

6. Investment banks hold billions in securities.

Hundreds of billions.

[grahamhgreen]

8. I think the bailout shows that wall street does get paid for making the wrong decisions,

as does the 3 TRILLION lent out by the FED to all the banks (including the central bank of LIBYA!).

If we fail to raise the debt ceiling, the entire house of cards that wll street depends on will be unsupportable, IMHO.

[SDuderstadt]

9. Huh?

Investment banks and investment funds don't hold securities?

You've got to be kidding.

[Kingofalldems]

17. Did you get that from Beck? Rush?

[kentuck]

4. Democrats should look at this debt ceiling debate like a poker game...

...and they are holding four aces. Let the Repubs try their bluffs and their talk. In the end, they are looking at a losing hand.

[DCBob]

5. Correct.

and that's why the teapottiers are freaking out.

[fredamae]

10. The quicker we stop shopping/driving

The quicker W/S will get on their asses, imho.

[malaise]

12. It's true

The debt ceiling is all about Wall Street and it's quack ratings agencies.

The truth is that within every system are the seeds of its own destruction - the contradictions.

[Enrique]

13. which means the hostage isn't really in danger

which means we shouldn't negotiate with the hostage takers.

[socialist_n_TN]

14. I posted this very thing yesterday..........

Ain't no way that Wall Street lets the Republicans get away with NOT raising the debt ceiling. There's too much out there in credit for the capitalists to take a chance on that many defaults. The big business Republicans will go along to raise the debt ceiling.

[socialist_n_TN]

15. I posted this very thing yesterday..........

Ain't no way that Wall Street lets the Republicans get away with NOT raising the debt ceiling. There's too much out there in credit for the capitalists to take a chance on that many defaults. The big business Republicans will go along to raise the debt ceiling.

[grahamhgreen]

18. Even Geithner also agrees. "Congress will pass an increase in the debt limit," Geithner told PBS.

[Shagbark Hickory]

20. It's not the republicans you gotta worry about, It's the DINO traitors.

[socialist_n_TN]

21. Oh they'll go along with it too.........

They're in the pocket of the capitalists as much as the big business Republicans are.