Newswise — “The political theater of the debt ceiling debate is starting to make some observers nervous as it becomes apparent that some of the players don't seem to realize that the debt ceiling is a real problem as opposed to merely an opportunity for political posturing.
“It was never the case that the reality-based wing of the Republican Party thought they would actually pull the trigger and force the country to stop borrowing money. After all, what corporate donor wants to fund politicians who have blown a massive hole in the value of their stock and bond portfolios? Make no mistake, these portfolios would be the first casualties of failing to pass a debt limit increase, as the recent bond rating downgrade warning from Moody's shows. “Who will win? I put my money where the money is. Corporate interests won't allow their representatives to let this happen, so count on the corporate-funded wing of the Republicans to fall into line soon. The Tea Partyers seem to believe their own propaganda and if they lose on this issue after so much public huffing and puffing, I wouldn't put much money on the continued tenure of John Boehner as Speaker of the House. The Democrats, on the other hand, seem a lot less conflicted - they are all for raising the debt limit and getting on with other business. Stay tuned.” --Steven C. Kyle, associate professor of Applied Economics and Management at Cornell University
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