Wall Street Bashes Boehner (I kid you not, but it's a good analysis)

[DainBramaged]

There has been a quick and concerted effort on the part of Democrats to paint House Speaker John Boehner's final debt ceiling proposal as insufficient to avoid the possibility of a downgrade of the United States' AAA rating.

When CNN's Erin Burnett reported Monday evening that the raters at Standard & Poor's would not be satisfied with a plan that neither lifted the debt ceiling through the 2012 elections nor reformed entitlement programs, party leadership jumped on the news.

If the sequence seemed a touch too political, it shouldn't have. Even before Boehner (R-Ohio) offered his plan, which would force $1.2 trillion in cuts over 10 years while creating a powerful congressional commission to find $1.8 trillion more, Wall Street was warning that a short-term increase in the debt ceiling would be insufficient.

A July 22, 2011 report by Bank of America Merrill Lynch, passed to The Huffington Post by a Wall Street source, outlined the economic fallout of a resolution to the debt ceiling crisis along the lines of what Boehner is crafting. Their forecast was far from reassuring. The report reads:

Our base case view is that the debt ceiling will be lifted around August 2. The resolution will involve a short-term extension and a provision for a commission to draft out a longer-term fiscal plan. However, this creates the risk of no follow-through on the tough decisions in an election year and should keep fiscal risk alive in the markets.

http://www.wallstreetsurvivor.com/CS/forums/t/44754.aspx

[Historic NY]

1. Ought Oh!!!!!!!

:popcorn:

[unblock]

2. the hard thing about this they're trying to beat their own boehner

first they stroked their boehner and then go back and forth, back and forth, some republicans talk to him nicely, but some republicans think he's a chicken and they want to choke that chicken; some want to whack him, some want to off him.

when all is said and done he'll be left limp and small and shriveled up shadow of his former self.

[DainBramaged]

3. A soft Boehner? Drunken soft Boehner?

[Evasporque]

4. Big Biz Sits on Boehner....nt