John Boehner’s amateur hour. Meanwhile, Michael Steel wants to destroy the world economy.




HuffPost Hill:

Morning Money reported today that John Boehner has been calling Wall Street executives and asking them how long he can hold out on raising the debt limit before the market gets spooked — as if he can tease the market with default and then back off at the last second without harming the economy. The executives, according to MM, have been warning him against playing games. Once you threaten to default, that injects a fear of default into the market, and you can’t just pump the market’s stomach and hope it spits it back up. The result will be higher interest rates for years, which means more expensive debt. “I mean, it really shows amateur hour. The notion that he thinks that’s how markets work is just stunning,” one House Dem chuckled to HuffPost Hill. Boehner spokesman Michael Steel says the market can blame Obama. “Speaker Boehner has made it clear that the American people will not accept an increase in the debt limit that is not accompanied by real cuts and serious reforms to address Washington’s out-of-control spending. He has said that for months. At this point, any delay is the result of the White House refusing to get serious about this issue.”


CyberDisobedience on Substack | @aravosis | Facebook | Instagram | LinkedIn. John Aravosis is the Executive Editor of AMERICAblog, which he founded in 2004. He has a joint law degree (JD) and masters in Foreign Service from Georgetown; and has worked in the US Senate, World Bank, Children's Defense Fund, the United Nations Development Programme, and as a stringer for the Economist. He is a frequent TV pundit, having appeared on the O'Reilly Factor, Hardball, World News Tonight, Nightline, AM Joy & Reliable Sources, among others. John lives in Washington, DC. .

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