An Observation about the Debt Ceiling Debate
One of the arguments made by the GOP concerning the economy is that a lack of certainty is resulting in lack of spending (and hiring) by businesses. This argument, which I have not found especially convincing, I must confess, is that the potential for more regulation and taxation has made business skittish and risk averse. The remedy (at least as I understand it) is purported to be electing Republicans who will lower (or, at least, hold the line) on taxes and regulations. Now, it seems to me that the problems with the economy are more complicated than that, but fine.
However, I am finding the “it’s the uncertainty, stupid” position to be increasingly hard to take given that the current major strategy of the GOP is to play chicken with the debt ceiling (a position that is creating substantial uncertainty in the bond markets and in the economy in general). I find it especially hard to take from those who actually want to refuse to raise the debt ceiling (as opposed to those who are just using the deadline as a negotiating tactic) and just to limp along from there (which would create a heapin’ helpin’ of uncertainty).
And yes, the above is an overly simplistic characterization of the situation, but it is the kind of thing I am seeing today from people on the Sunday Shows (such as Mitch McConnell today on FNS).