Wednesday, January 16, 2013

Just hang tough?

I really liked the idea of the trillion dollar coin because I could imagine Mitch McConnell jumping up and down like Yosemite Sam on the Senate floor, and what could be funnier?  Sadly, Our President has denied me the joy of watching that show.  He says he won't ask Treasury to mint the coin, and he won't mount a Constitutional challenge under the 14th Amendment either.

Also, he says he won't negotiate spending cuts while being "blackmailed."

It's beginning to look a lot like a game of chicken, and the problem with playing chicken is that the wackos tend to win.  In case you hadn't noticed, there is no shortage of wackos in the House of Representatives.

It is nice to see Obama showing strength, and, at long last, refraining from negotiating with himself.  Tea Party types like Ted Cruz are not responding to pressure from the business community, but I suppose there still is hope.  After all, Congress remains something of a millionaire's club, and the members' own portfolios would be battered by the market chaos that is likely to follow a default.  Maybe Obama can pull this one off.

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