POLITICS - The Insane Republicans Play Checken

"Pressing Obama, House Bars Rise for Debt Ceiling" by JACKIE CALMES, New York Times 5/31/2011

Excerpt

The House on Tuesday overwhelmingly rejected a measure to increase the government’s debt limit, acting on a vote staged by Republican leaders to pressure President Obama to agree to deep spending cuts.

Republicans brought up the measure, which was defeated 318 to 97, to show the lack of support in the House for raising the $14.3 trillion debt ceiling without concrete steps to rein in chronic budget deficits.

The preordained outcome followed several acts of odd political theater on the House floor: Republicans urged the defeat of their own measure, while Democrats — who not long ago were seeking just such a vote to raise the debt ceiling without attaching spending cuts — assailed Republicans for bringing it up, saying its certain defeat might unnerve the financial markets.

Just in case, Republican leaders scheduled the vote for after the stock market’s close, and in the preceding days called Wall Street executives to assure them that the vote was just for show, to show Mr. Obama that he would have to make concessions in budget negotiations if a debt-limit increase is to pass Congress.

“This vote, based on legislation I’ve introduced, will and must fail,” said Representative Dave Camp, Republican of Michigan and chairman of the Ways and Means Committee.

Representative Chris Van Hollen of Maryland, the senior Democrat on the Budget Committee, objected. “This is a political stunt,” he said.

Voting against the measure were 236 Republicans and 82 Democrats. No Republicans voted in favor.

The showdown over the issue is likely to continue well into the summer, with consequences for both parties and, potentially, for the economy and Wall Street, where the bond market in particular is watching the partisan standoff closely. Yet for all the talk of crisis should Congress fail to raise the debt ceiling by Aug. 2, when the Treasury Department says it will run out of room to meet all the government’s obligations without further borrowing, the financial markets are likely to yawn at Tuesday’s proceedings.

"Reps. Clyburn, Roskam Debate Thinking Behind Debt-Ceiling Showdown"
PBS Newshour 5/31/2011


Geesh.... Republicans are insane. Playing chicken with the credit worthiness of the United States, AND when we are still in an economic recovery. Can you believe they actually think this is good for America? Republicans are sick and should be committed for psychiatric care.