No Surprises Here: Boehner Assures Wall Street That Republicans Will Raise The Debt Ceiling
May 11, 2011 by Bob Livingston
Monday night, House Weeper John Boehner (R-Ohio) went before Wall Street’s Economic Club to assure the Nervous Nellies that Republicans would agree to raise the debt ceiling. Moneynews.com reported that Boehner was stuck between a rock and a hard place, trying to calm Wail Street while keeping up the façade that Republicans care about cutting government spending.
The news site quoted Ron Bonjean, a former aide to past Speaker Dennis Hastert, who said, “You can’t tell Wall Street with a wink and nod that you are going to raise the debt limit, because it will definitely affect our bargaining position with the White House.”
In the speech, Boehner said that America defaulting on its debt would be “irresponsible,” and then added, almost as an afterthought, “But it would be more irresponsible to raise the debt ceiling without simultaneously taking dramatic steps to reduce spending and reform the budget process.”
NPR reports that even New York’s Democratic Senator Charles Schumer caught on to Boehner’s hypocrisy: “In an interview just two weeks ago, Speaker Boehner refused to even guarantee he would bring a bill raising the debt ceiling up for a vote in the House unless certain demands are met.”
Democrats should find comfort in the fact that Boehner is being so “reasonable” now, especially after all his big talk about “cutting trillions.” And the American people can rest assured that the Republicans always have their best interests at heart — if they live on Wall Street.