There is a nifty little Ace the President has up his sleeve that guarantees Republican capitulation on the Debt Ceiling, and endless embarrassment for them if they continue to use this ploy. It's called a "Credit Event". A default on the US Debt would cause a Credit Event which would rip thorough the global economy like a McCullough Chainsaw, causing massive loss of wealth and cascading bank and business failures.
If the Republicans cause a Credit Event none of the current GOP Congresspersons and Senators will ever be allowed on a ballot again ... it doesn't matter how popular they are in their districts, they will be done in politics, and probably business as well.
The Republicans causing a Credit Event would be an unforgivable act beyond redemption.
The wise thing would be for the Republicans to do is just raise the debt limit and find another, lest dangerous, field of battle for the budget fight. There is no win for Republicans here.
Read the Article at HuffingtonPost
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