Wall Street Journal Warns Republicans Are Greatest Threat To America’s Economy

Shut er down

It is fairly well known that since Republican demigod Ronald Reagan was president, the GOP have concentrated on the one and only economic agenda that has proven to fail since its inception. Oh it is true that there are several other failed economic policies Republicans embrace besides just giving outrageously generous and unfunded tax cuts to the richest one percent, but oil subsidies, spending cuts, financial deregulation, poverty wages and allowing corporations to hide their trillions of dollars in profits are secondary in the extent of harm to the economy and Americans to the absurd trickle down scam. However, over the past six years Republicans have employed a novel means of wreaking economic havoc on the nation that typically has had nothing whatsoever to do with spending, debt and deficit, or growing the economy, and this year they are using religion to slow down job creation and thwart economic growth.

The world’s economists, like all Americans, have sat back and marveled at how Republicans in Congress have deliberately and repeatedly taken the country into fiscal deadline after fiscal deadline to force Democrats to bend to their will. Now, as another deadlines looms, a majority of economists responding to a Wall Street Journal survey predicted Republicans would once again damage the economy and world financial markets because evangelicals hate Roe v. Wade, contraception, and the incomprehensible idea of women making their own reproductive health choices that are contrary to evangelical and Catholic clergy.

According to a recent survey of 62 real economists by the Wall Street Journal, it is not the instability of China’s stock market, or its move to devalue its currency, or the Greek Eurozone crisis, or the possibility of the Federal Reserve finally raising interest rates. What frightens a great majority of the nation’s leading economic experts most of all is that the Republican-controlled Congress willprecipitate another fiscal crisis this fall” when Republicans plan to either shut down the government unless Planned Parenthood is destroyed, or hold the debt ceiling hostage until Planned Parenthood is destroyed. It is important to note that the push to put an end to Planned Parenthood has nothing to do with the economy, debt and deficit, national security, jobs, or economic growth; it is about legislating and enforcing an extremist religious policy.

The devoutly Republican Wall Street Journal’s economic round table noted that Senate Majority Leader Mitch McConnell made a solemn promise that Republicans would never shut down the government, or ever hold the debt ceiling hostage again. However, McConnell, or Speaker John Boehner for that matter, does not lead the Republican-controlled Congress; that power belongs to evangelical maniac Ted Cruz and his extremist clergymen in both chambers.

According to the WSJ Survey: Economists Cite Budget Battle as Top Threat, “After watching Congress repeatedly crash into fiscal deadlines in recent years, a majority of economists are expecting a repeat performance, with 55% of respondents to the latest Wall Street Journal survey of 62 economists predicting that there will be some disruption to the economy and financial markets in the months ahead.” And it will be the result of Republicans who intend on using the upcoming budget deadline and debt ceiling to achieve their neo-American Christianity’s goal of abolishing Planned Parenthood. According to current crop of GOP-theocrats, the Supreme Court illegally used the Constitution’s 14th Amendment to “allow” women to choose when they give birth.

The WSJ economists are fearful that yet another evangelical Republican economic disruption will have a really serious impact on their forecast for 2.2 percent GDP growth and a 5.1 percent unemployment rate by the end of 2015. The economists, who have witnessed Republicans “produce significant damage to the American economy” three times over the past six years said they are convinced Republicans will do a repeat performance such as the debt ceiling crisis of 2011, the fiscal cliff showdown in 2012, and the 2013 government shutdown that adversely affected the American economy and won Republicans control of the entire Congress. The economists, particularly the chief U.S. economist of High Frequency Economics forecasting firm, Jim O’Sullivan, said if Republicans as varied in extremism as Ted Cruz and John McCain follow through on their threat to shut down the government if Planned Parenthood is not destroyed, especially with a new budget and borrowing authority due by October 1st, they will repeat their past “serious damage to the economy by harming consumer confidence.”

The economists are not just imagining a worst-case scenario without empirical data, they noted that in 2011 when Republicans held the debt-ceiling hostage, not only did it cost the Treasury billions and billions of dollars in higher borrowing costs due to a first-in-history credit downgrade, it destroyed American consumer confidence. The result was, according to economic experts, real data, Reuters and the Christian Science Monitor, “the Republican debt-ceiling debacle caused job creation, consumer confidence, and economic growth to nose-dive.” It was “mission accomplished” for Republicans who have been stellar at killing jobs and thwarting a robust economic recovery since they crashed the world’s economy just seven years’ ago.

It is important to remember that when Standard & Poor (S&P) downgraded America’s stellar credit in 2011, it was solely because Republicans “expressed skepticism about the serious consequences of a credit default,” and that “the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a creating a credit default. That a country even has such voices is something notable. This kind of rhetoric is not common amongst AAA sovereigns.”

What S&P, like the WSJ’s panel of economists, certainly understands is that nothing about the rhetoric from the current crop of Republicans is common, or sane, or economically sound, or in this looming crisis, unrelated to evangelical fundamentalism. Seriously, Republicans cannot complain about federal spending because it has been lower in every year of President Obama’s tenure, and the annual budget deficit has shrunk by two-thirds. What Republicans will shut down the government over is not about spending, or a debt crisis; it will be about women and men having access to cancer screenings, family planning, and contraceptive use; all issues founded on religion and all issues Republicans will use to dampen consumer confidence, damage job creation, and prevent economic growth.

Although in the past the extremists in Republican ranks were ever-present, it has become a requisite to be over-the-top extreme since the Republican presidential primary began. Since they have no cause célèbre like the Affordable Care Act to use as a reason to shut down the government or destroy the “full faith and credit of the United States,” Republicans have embraced the religious right’s war on women’s right to choose as the newest reason to, at least, damage the economy. It is important that the latest warning from economists are all affiliated with the Republican Wall Street Journal, and although they acknowledged that the economic crisis in China, affordable oil prices, and Greek economic woes certainly impact America’s economy, they are only warning that, like in 2008, 2011, 2012, and 2013, it is extremist Republicans that continue to pose the greatest threat to America’s economy.

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40 Replies to “Wall Street Journal Warns Republicans Are Greatest Threat To America’s Economy”

  1. The WSJ is now sounding the alarm about GOP policies that will harm this country. The WSJ leans right. For them to be proclaiming the GOP economic policies are harmful to the country should make everybody sit up and take notice

  2. Unfortunately, the GOP base will never sit up and take notice. The GOP will never even hear about it on the right-wing propaganda media they exclusively listen to.

  3. The answer should be easy. Wall Street needs to shut down Cruz and his ignorant ilk.

    But this is the monster they helped legitimize.

  4. Finally! The big money people are seeing the gopers trying to throw the baby out with the bath water. The real impact of this report is that the donors to the presidential race will cover their bets and donate heavily to anyone NOT republican. Other than the Kochs and Addelson, the gopers will start to watch the piggy bank begin to shrink and the democrats will be the beneficiaries.

  5. Barry M. Goldwater

    “Mark my word, if and when these preachers get control of the [Republican] party, and they’re sure trying to do so, it’s going to be a terrible damn problem. Frankly, these people frighten me. Politics and governing demand compromise. But these Christians believe they are acting in the name of God, so they can’t and won’t compromise. I know, I’ve tried to deal with them.”

  6. brodie224…
    an excellent reminder of how far down the rabbit hole these GOP’ers have slithered.

    Many thanks.
    derrick

  7. Historically, the gop administrations have tanked the American economy several times with unpaid wars, tax cuts for the rich, bad deals that profit their friends.corruption, deregulation, theft.

    The gop havent earned the right to govern whatsoever.

  8. What took the people at WSJ so long to figure this out? It’s a no brainer. Republicans have chosen to ignore the iceberg and continue full speed ahead with trickle down economics and mixed it with the “truth and logic free” thinking of the fake Christian theocrats. The result is the inmates are now running the assylum and the billionaires are funding it. What could possibly go wrong there?

  9. The Wall Street journal IS the right wing media… it is a division of NewsCorp, just like Fox News. How is this even possible? Strange, very strange

  10. Republicans seek to destroy this nation and re-build it in their own twisted image. They only want obedient Duggar Stepford Wives who will make them a sammich on command, and turn American into the Handmaiden’s Tale. They want every white woman in America to become a Christian Birthing Machine, while everyone with skin darker than a paper bag to be shipped overseas. They want to turn this country into a homogenous white Christian nation, and everyone else can suck it.

    That is the Republican plan in a nutshell. Racial purity, women as slaves, and a violent, militaristic society.

    Now where have we seen this before? Hmmm….

  11. —“Seriously, Republicans cannot complain about federal spending because it has been lower in every year of President Obama’s tenure, and the annual budget deficit has shrunk by two-thirds. What Republicans will shut down the government over is not about spending, or a debt crisis; it will be about women and men having access to cancer screenings, family planning, and contraceptive use; all issues founded on religion and all issues Republicans will use to dampen consumer confidence, damage job creation, and prevent economic growth.”—–

    These Republicans are RECKLESS and dangerous. This crop need a SERIOUS make-over. A clean sweep is in order, otherwise we will have the same actions happening over and over to the detriment of the country. Why don’t Republican voters see that?

  12. Yeah they are. These people don’t understand that you cannot have a libertarian government and still maintain your status in the world as a developed nation with a high standard of living.

    So what do they do? They promote economic policies that cause one economic and government crisis after another. You know, because they are “real Americans.” It is so infuriating.

    China Announces “Indefinite Stock Market Vacation” While Wall Street Promotes Inflated Stocks
    http://www.theniladmirari.com/2015/08/china-announces-indefinite-stock-market.html

  13. The single most important thing we want to achieve is for President
    Obama to be a one-term president.¬” ~Mitch McConnell, Senate Minority
    Leader, (R-Ky.), October 2010,, NOT GOVERNING,,OR JOBS,, OR THE ECONOMY ,,, McConnell vows obstructionism will continue into Obama´s 2nd term. He has filibustered everything.His directive to all GOP senators is to block every initiative regardless of merit. What bills has the GOP filibustered?
    H.R. 12 – Paycheck Fairness Act
    H.R. 448 — Elder Abuse Victims Act
    H.R. 466 – Wounded Veteran Job Security Act
    H.R. 515 – Radioactive Import Deterrence Act
    H.R. 549 — National Bombing Prevention Act
    H.R. 577 – Vision Care for Kids Act
    H.R. 626 – Federal Employees Paid Parental Leave Act
    H.R. 1029 – Alien Smuggling and Terrorism Prevention Act
    H.R. 1168 — Veterans Retraining Act
    H.R. 1171 – Homeless Veterans Reintegration Program Reauthorization
    H.R. 1293 — Disabled Veterans Home Improvement and Structural Alteration Grant Increase Act
    H….

  14. It appears that “We The People” have but two choices: 1.Vote “all” of these “puppets” of the “elite” 1% out of our government offices (peacefully). (Or) 2.WE CAN “ALL” JUST GET “REALLY”,”REALLY”, VERY, VERY, PISSED-OFF AT “ALL” OF THESE DEMENTED STOOGES AND THEIR EVIL “MASTERS”, THE “ELITE” 1%!!! AND THEN ACTUALLY LET THEM ALL KNOW JUST HOW WE “REALLY” FEEL ABOUT THEM (24/7)…

  15. We saw this when I was working in equities. So many times the republicans were pushing for things that damaged the market. They allowed hedgefunds to remain secretive, quantum trading was taking down Lehman Brothers, and Bush knew it, they weren’t raising interests rates which created false highs in the market, that leads to the market not adjusting itself so when it finally does it’s a major hit, a black Monday moment. They don’t think long term ever, just short term which caused “flippers” to create the whole internet bubble, the list goes on and on and on.

  16. We have had twenty-six government shut downs since Reagan. The WSJ doesn’t speak for this conservative. Why would you protect the 12% of the federal workforce that takes the hit in a shut down only to get retroactive pay reimbursement? When will the GOP demand accountability? When will the WSJ demand accountability?

  17. Republicans are the greatest threat to anything good and decent.

    Really.

    They’re not good for ANYTHING. Rarely are they even good to their own family members, and then, they keep a receipt.

    Republicans are the monumental ‘takers’ of everything, and only ‘give’ when they think someone else is watching.

    The WSJ and Ayn Rand are their deities, and one can only imagine a fate for all of them similar to the painful, degrading, lingering, and lonesome road to eventual death that Rand enjoyed.

  18. I’ve known these GOP thugs are stomp down, rat brained, staring into the sun crazy for some time now. They can’t win on policy so, lacking any conscience, they threaten to destroy everything when they see their mania let game go glimmering. They cheat the vote where I have always held that voting is a sacred duty or privilege of every citizen. They lie to do harm to their own citizens. of course they cut education. No educated person that wasn’t totally corrupt would have anything to do with them. the existence of all these dreamed up or hoped for gods that are basically just evil versions of the loving Jesus that I learned about and thought was silly as a child. Since the third grade I have held that a loving caring God is no more than wishful thinking and who would want anything to do with a republican Jesus? I got slapped around atCatholic school and that’s the real Jesus I knew. I’ll tell you, he had a real hard hand and I felt it weekly. The thug god they create suck…

  19. The WSJ is owned by Rupert Murdock. Funny that he created the environment on Faux News on one hand and with the other, allowed the truth be told by economists. Maybe, tRUMP (borrowed from another poster)will bring Faux News to their lying knees.

  20. Was this a direct quote from Barry? If so– he was right on target. Too bad the GOP did not listen or take precautions. Instead we have the slime of this party rising to the top, not the cream.

  21. Our Democratic Leaders need to wake up because America is in a state of emergency & we must urge everyone we know to vote Democratic or the U.S.A. is doomed & my life,my family’s lives & the lives of every decent American matters.

  22. Unfortunately, I think it will take even more than this article for a majority of people to wake up. Society does not care anymore, voter apathy, usually people don’t wake up until it has a direct “in your face” impact on them personally.

    Low info voters either watch Fox, or don’t read. Reality shows are a way of life for many. A good part of America has become very shallow and very stupid.

  23. The hard right crowd that currently controls the Republican party are scared beyond silly of demographics. The innocent sounding phrase, “majority rules,” soon won’t mean white people dominate politics/power. Whites (KKK definition thereof) are already the largest single minority in CA, and very soon will be in my home state of TX.

    It is known as the minority majority: the total number of folks in all the non-white minorities is greater than the colorless population.

    That the really far right Republicans also want to convert the USA to a Christian only nation, that it has never been and was never meant to be, is also more than a bit insane… A white theocracy would be an authoritarian nightmare of unimaginably bad consequences.

    These are today’s mad men and women… There have been and will always be this kind of crowd in the world. Sanity prevails in these United States when as many people as possible register and vote; accumulated rationality.

  24. Whencongressmen are elected like one from the state of Colorado to go to DC to do an exorcism on the president to rid him of demons-our country is in trouble

  25. And yet millions of citizens still believe there’s no real difference between the two parties. Look at their platforms, look at the bills they introduce, look at their votes. They could hardly be more different. Republicans support corporations; Democrats favor human beings.

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