is no big deal.
http://www.irishtimes.com/newspaper/opinion/2011/0728/1224301495723.htmlWITH THE US days from defaulting on its debt, the ugly truth is that a significant portion of the Republican Party would rather bring the US and world economies crashing down around them in an economic Samson option than entertain the possibility of compromise.
As the ranking Republican in the Senate, Mitch McConnell, said after last November’s midterm elections, the number one priority for the Republicans is to prevent Barack Obama from being re-elected. If they have to destroy the country in the process, so be it.
In doom laden Washington, it’s the morning after the midterms. The 87 Republican freshmen elected last November, along with a handful of Tea Party cohorts in the Senate, are the hardest of hardliners. The Tea Party’s victory has come home to roost.
The rift within the American right pits traditional, pro-business moderates against the Tea Party populists who view the government and Wall Street with equal suspicion. The group who’ve come to be known as the Default Caucus seem wilfully and blissfully unaware of the probable consequences of their obstinacy.
Former president Bill Clinton has suggested that Obama invoke the post-civil war 14th amendment to unilaterally raise the debt ceiling. This is Obama’s nuclear option, and he’s unlikely to take it. The backlash from Republicans would be horrendous.