Chamber, Business Groups Warn GOP on Debt Limit Consequences

[cal04]

http://www.rollcall.com/news/chamber_business_groups_warn_gop_on_debt_limit_consequences-207209-1.html

Big business on Tuesday upped its pressure on Members and the White House to reach a deal to raise the nation’s debt limit to avoid what it views as a potential fiscal calamity.

“Now is the time for our political leaders to put aside partisan differences and act in the nation’s best interests,” more than 450 CEOs wrote in a letter organized by the U.S. Chamber of Commerce and other business organizations. The letter went to all Members of Congress and to the White House.

“It is time to pull together rather than pull apart,” they wrote.

A source who worked on the letter said privately that the missive is the tip of a much larger, behind-the-scenes lobbying effort to educate Members of Congress, particularly freshman Republicans, on the perils of not raising the debt limit. The chamber’s Bruce Josten and other top business lobbyists have been privately meeting with Members for months, the source added.

[PoliticAverse]

1. And this is why ultimately they don't have the votes for a default... n/t

[sharp_stick]

2. You know that if the chamber of commerce is getting nervous

they're afraid that they've lost the GOP to the radical wackos like Paul Ryan and Michelle Bachmann.

[The Magistrate]

6. Exactly, Sir: Many Of These Tea-Bagger Types Think 'The People' Put Them In Office....

[arcane1]

3. Those damned freshman Republicans

Idiots who are clueless about how the government actually works, elected by idiots who were even more clueless.

[AlinPA]

8. Most republicans believe the earth is 6000 years old and that man lived with dinosaurs. How can you

negotiate with that level of stupidity? They will not vote to raise the debt limit.

[white_wolf]

4. This is why Obama should have demanded an increase in taxes on the rich, the closing

of all corporate loop-holes without lowering corporate taxes as part of his deal to raise the debt ceiling. The Republicans masters in the business world won't risk the damage a U.S. default would do to their profits..

[KittyWampus]

10. He did. That's why the Republicans walked away from the table. Weren't you paying attention?

[white_wolf]

12. Of course they did at the beginning.

If he would have kept that position than the Republican's bosses in the business world would have forced them to agree to it because the higher taxes is nothing compared to what will happen to their profits if the U.S. defaults.

[Hubert Flottz]

5. Those CEOs should pay their fair share of the taxes.

Until they do it looks like they are part of the problem.

[MadMaddie]

7. Uh oh the Repugs masters The Chamber of Comerce has

spoken.....Republicans have screwed themselves in a corner....450 CEO's understand what will happen...the intertwined economy will collapse.....

[socialist_n_TN]

9. As I've said all along. Wall Street and

big business WANT the debt ceiling raised, so it WILL be raised. They also want "austerity", so they can get to the privatization part of the agenda too, but FIRST and formost the debt ceiling. And Republican (plus most Democrats) won't go against their corporate masters.

[KittyWampus]

11. Wrong. Wall Street can make money off the default. Ask Cantor.

[socialist_n_TN]

13. Sure they can. But can they make long term money

Off the default? I don't think so.

[KittyWampus]

15. It'd lead to inflation. So there again, room to profit for those in the know.

[Zenlitened]

14. Excellent. They've just dealt Pres. Obama his fourth ace. - n/t