Last year, Senate Minority Senate Leader Mitch McConnell said, “The single most important thing we want to achieve is for President Obama to be a one-term president.”
Given Republican intransigence over increasing the debt limit, and the tendency of presidential elections to turn on the economy, it sure looks to me like the Republicans are acting to tank the economy by preventing a debt limit increase.
They’re saying, in effect, “You can choose between cratering the economy by failing to increase the debt limit, or cratering the economy by a massive cut in federal spending.”
Can we stop calling them Republicans and start calling them Hooverians? They’ve never really gotten over when Hoover was replaced by Roosevelt (or “that man” as they called him). How’d Hoover’s policies work out for the economy? The Great Something-or-other?
They’re clearly not interested in reducing the deficit, or they’d be talking about ending the Bush tax cuts for the wealthy that created the structural deficit following the Clinton surplus.