No Dealing On The Debt Ceiling, Part 2

Dear entire universe:  Eric Cantor is full of crap.  The GOP House majority leader is lying through his teeth.

Cantor spokesperson Laena Fallon notes that Republicans will not allow the country to default, but that they will raise the debt ceiling in the window, defined by the Treasury department, between when the country reaches its borrowing limit, and when it actually defaults on its debt. In an emailed statement, she writes, "The House will consider a debt limit increase within the window put forward by Treasury Secretary Geithner. Should he shift his estimation for necessary action based on revenues or outlays, we will move as well. However, as Republicans have made clear, we will not blindly raise the debt limit without meaningful spending cuts and binding budget reforms to ensure that we don't continue bad spending practices and max out the credit card in the future." 

I know Eric Cantor is bluffing about letting the country hit the debt ceiling because there is no concievable way the banksters are going to let him raise interest rates and wreck the markets for years with the mere threat of a serious default.  It will cost them a lot of money, more than Eric Cantor and his Tea Party chunderheads are worth.  This will not be allowed to happen, because the real people who run the country will not want to lose billions and billions of dollars as the bond market goes flat on its back.

If there is one constant in the political universe, it's that the rich will get their way.  Cantor and company won't be allowed to jeopardize the no-cost loan industry from the Fed.  Expect a big, ugly smackdown from the business community over this very, very soon about the dangers of failing to raise the debt ceiling in an orderly fashion.

The GOP will not be allowed to do this.  It is an empty threat, pure and simple.