To be absolutely clear, Republicans only care about being in charge. The people who will be unable to pay their bills when social security payments fail to arrive are of no concern to them. Accused sex trafficker Matt Gaetz is proud of holding President Biden "hostage" over the debt ceiling, and now RNC chair Ronna McDaniels has spoken: a default is good for Republicans.
The Republican House of Representatives is showing the entire world it doesn't give a shit what happens to you so long as they get to remain in some place of power. Unable to direct the ship at the Federal level, they've stopped it while GQP-led State legislatures march us ever toward Gilead.
Ronna McDaniels just wants Republicans to win control of the Senate and Presidency, she doesn't care if you can pay your bills.
Fresh off the heels of Matt Gaetz calling the president a GOP hostage (I mean, really, intelligence is not Rapey McForehead's strong suit) we've got Ronna telling Martha MacCallum on Fox that defaulting on the financial obligations of the United States of America is fine because it benefits the Republican presidential field.
The vast majority of Americans (lie) feel like we're not heading in the right track. (in?) And then you look at this debt ceiling crisis. You look at us about to default, and you see that president took 90 days out from negotiating. (lie) He refused to come to the table with Republicans. (lie) Republicans have put a plan on the table (cutting veteran's benefits?) and this is an MIA president when it comes to problems that the American people are facing – (lie) whether it's energy independence, (lie) whether it's fentanyl, (omg Halloween fentanyl where are you?) whether it's a broken border, (c'mon Ronna) whether it's crime surging in our streets. (No one on Fox is going to ask for a fact check on any of this which is why you're on that network, and we all know it, Ronna.)
This is a president (Trump?) that is failing the American people. (Jack Smith on the phone, Ronna) So I think that bodes very well for the Republican field.
Aaaaand she gives the game away.
Your frontrunner is at 39 indictments so far, Madam Chair, and the runner-up crapped his pants on Twitter yesterday. Do go on.
It can feel like the debt limit is an imaginary thing the morons are fighting over in Washington, here NPR shares some of the real world impacts:
The shock to markets could spark a global financial crisis
An actual default would also deliver a massive shock to financial markets, raising the prospect of a new global financial crisis.
Investment bank UBS estimates the S&P 500 could fall by at least 20%. Bond markets would tumble, and that would send borrowing costs higher across the economy including for already-high mortgage rates.
And banks would be hit as well given that lenders are among the major investors of government debt. As a result, depositors and investors could start to worry about whether banks are on solid ground at a time when the banking sector has recently suffered through the failures of three smaller and regional lenders.
'That's when the financial system freezes up," Wolfers explains. "That means there's no more borrowing, businesses stop investing and the markets go absolutely haywire."