Don't Make Us Hurt The Hostage

Republicans agree on two things:  one, that failing to raise the debt ceiling would be a economic catastrophe for the country...and two, in order to prevent that catastrophe, Obama better give Republicans 100% of their demands, or else.

House Speaker John Boehner (R-OH) says it's not a threat.

Even as he admitted that not raising the debt ceiling would mean a "financial disaster" for the US and the world, the Speaker said Sunday that Democrats must agree to big spending cuts before the GOP-controlled House will support the Obama administration's spending plans.

"I know you're not threatening to default, but do you agree with administration officials and other economists that defaulting on the full faith and credit of the United States would be a financial disaster?" Fox News' Chris Wallace asked Boehner.

"That would be a financial disaster," the Speaker agreed. "Not only for our country, but for the worldwide economy. Remember, the American people on election day said we want to cut spending and we want to create jobs. You can't create jobs if you default on the federal debt."

"Listen, there has been a spending spree going on in Washington the last couple of years that is beyond control," he added. "And the president is going to ask us to increase the debt limit, he's going have to be willing to cut up the credit cards. We've got to work together by listening to the American people, and reducing these obligations that we have."

"So, defaulting on the full faith and credit is unacceptable to you?" Wallace pressed.

"I don't think it's a question that is even on the table," Boehner replied.

Sure, it's "not on the table".  But the President has to give Boehner exactly what he wants or he'll destroy our economy.   "It would be a shame if anything happened to your recovery there, Mr. President."   The self-fulfilling prophecy of doom that Republicans keep promising will come to pass if the House fails to raise the debt limit.

Boehner knows he can ask for everything he wants, from Social Security cuts to the full repeal of Obamacare to drastic reductions in anything he wants to get rid of.  They'd hate to let the country default, but...well, let's just say earlier I was convinced that the powers that be would never let the Republicans wreck the financial markets.

Now?  Now I'm not so sure.