Skip to main content

Tim Pawlenty, former Republican presidential candidate, former co-chair of Romney's campaign, thinks Congressional Republicans should stop trying to hold the economy hostage:

The powerful Financial Services Roundtable — which is headed by former GOP presidential candidate Tim Pawlenty and represents nearly 100 of the largest financial service firms in the country — is set to increase pressure on Congress to raise the debt limit, warning that failure to do so will make the markets go “haywire.”

“We are in favor of raising it, and we will be encouraging policy makers to increase it,” Scott Talbott, the senior vice president for public policy for the Financial Services Roundtable, told me today. He added that the group was gearing up to communicate the demand for action to Congress, an effort that could include sending letters to every member. “We will communicate with the entire Congress,” he said.

Talbott said the markets would  go nuts if the debt ceiling were not raised. Interestingly, he noted that the markets had remained relatively flat heading into the fiscal cliff deadline, and said he expected the same as the debt ceiling deadline looms, because the markets now expect Congress to get these deals done at the drop dead moment.

washingtonpost.com/blogs/plum-line

Newt Gingrich and the WSJ editorial board have also warned their fellow republicans that their chosen strategy is horrendous.

In related news, also written up by Greg Sargent:

Karl Rove accidentally unmasks the GOP’s debt ceiling ruse
Rove acknowledges flat out that Boehner, McConnell, and other Republican leaders do recognize that they will have to raise the debt ceiling. They just, you know, want to raise it while reaching a broader deal to cut spending. The game here is absurdly transparent: You mustn’t claim Republicans are crazy enough to destroy the economy to get their way, because they don’t want to do that at all — but you still must play along with the idea that the need to raise the debt ceiling (which they acknowledge must happen) still somehow gives them leverage to get the cuts they want.
Please click over to read the original for the details, and to give Sargent the kudos he deserves: karl-rove-accidentally-unmasks-the-gops-debt-ceiling-ruse/

I think the game is just about up.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site