Reply #8: "Non-Binding" Vote... [View All]

[KharmaTrain]

McChinless blinked when he got the message from the real bosses on Wall Street that enough was enough...no screwing with the country's credit. What he did got waa a "face saving" group of non-binding votes of "no confidence" in the raising of the debt ceiling...supposedly to give the teabaggers some cover.

A couple of other things come into play here. Ruining the economy this year wouldn't help the GOTB next year...and I'm thinking the hopes are the economy stays bad and that by kicking yet another can down the road this could bring things to a head again next year closer to the elections. In essence McChinless gave President Obama an out...a way to avoid defaulting without having to get the "consent" of the legislative.

Does this mean SS, Medicare and Medicaid are safe? For now, but then there's the budget negotiations that begin in earnest in September...so we'll see if this is some master stroke of strategy for the set up for a cave-in further down the road...