With Speaker Boehner’s (R-OH) resignation, the conservatives are in charge of the House. This prospect is terrifying Wall Street, which should indicate that the Republican Party has already ceded the mantle of “party of business”. It just hasn’t become official yet.
“And on Wall Street, fear set in at the prospect of another showdown over the government’s ability to pay its debt, support its export businesses and simply keep its doors open,” Jonathan Weisman and Michael D. Shear writing at the New York Times reported.
If conservatives don’t shut down the government in the next few weeks, they will surely do it in December when whatever short-term funding bill Boehner can extract from his nutters — or most likely ram through his nutters with the help of Democrats — will expire.
To get more stories like this, subscribe to our newsletter The Daily.
More from the NYT:
The new speaker, elevated to the country’s third-highest constitutional post by a conservative rebellion, will face demands from those same rebels to extract concessions from a president who has little to lose by standing firm.At stake for conservatives will be the one clear victory they have scored since the Tea Party revolution of 2010: firm statutory limits on spending signed into law in 2011, which Mr. Obama has said he can no longer abide.
In turn, the Republican Party, already wrestling with the effect of Mr. Trump’s populist insurgency on its chances at the White House, could find itself with the political challenge of justifying to moderate voters yet another Washington crisis, prompted by an even more obstreperous, confrontational House majority.
The House will be run by the petulant children who have already cost taxpayers and businesses billions of dollars just so they could throw a temper tantrum in front of their friends. These are the same people claiming a moral high ground as they steal from babies to fund oil companies.
Republicans keep saying that liberals are ruining business with oversight and regulation, but it is actually Republican shutdowns that are doing the most damage to businesses and the economy. And Wall Street knows it. Just a few months ago business leaders accused Republican lawmakers of not knowing what they were doing.
“They really don’t have a clue what they’re doing or the damage they’re going to inflict on small businesses in America by closing the Ex-Im bank.”
Reasonable liberals want Wall Street businesses to be overseen, not utterly destroyed. They want responsible stewardship that rewards hard work and treating labor well. They disparage what big business has become and a government that steals from them to feed the greed of big business. That is not the same as hating business. The government is supposed to be helping “human people” as the Pope put it, not being used as a mechanism from which to steal from and abuse the people.
None of this would be happening if Republicans hadn’t catered so much to big business — in ways that can’t be justified — that they’ve had to scrounge around for the lowest forms of life who would be willing to hawk their wares, searching for a special combination of egomania and willful ignorance that renders the person incapable of seeing that they are being used like yesterday’s trash. (Hello, Sarah Palin.)
Now Frankenstein’s monster is attacking its maker. Wall Street is terrified.
There won’t be a grown up in charge anymore, no one who can right the ship for the sake of the Republican Party’s image. The Jihadist Johnnies are at the helm and there will be no denying it.
Boehner’s resignation is the cherry on top of the death of the “moderate Republican” delusion. There are no more effective moderate Republican policies or politicians. This in an election year is not what Republicans needed, but it is also not what Wall Street wants and even more importantly, real people will be harmed by another GOP shutdown.
It’s all chaos, terror and dread in D.C. and on Wall Street. But soon enough the disastrous results of the takeover by the nihilistic carnival barkers and tent revival snake oil salesmen will be evident enough. Just in time for Christmas, like the Scrooges they are.
Meanwhile John Boehner can finally sleep again at night, knowing he will soon be free of the relentlessly pecking “wacko birds”.
Listen to Sarah on the PoliticusUSA Pod on The Daily newsletter podcast here.
Sarah has been credentialed to cover President Barack Obama, then VP Joe Biden, 2016 Democratic presidential candidate Hillary Clinton, and exclusively interviewed Speaker Nancy Pelosi multiple times and exclusively covered her first home appearance after the first impeachment of then President Donald Trump.
Sarah is two-time Telly award winning video producer and a member of the Society of Professional Journalists.
Connect with Sarah on Post, Mastodon @PoliticusSarah@Journa.Host, & Twitter.
