It has been clear for some time now that the Republican Party is The Stupid Party. But with today's shut down of the federal government, the Republicans have earned the moniker, The Delusional Party. They are "rebels without a clue," Paul Krugman writes. Unless they can defund health care, they will refuse to raise the federal debt ceiling:
Now suppose it became clear that U.S. bonds weren’t safe, that America couldn’t be counted on to honor its debts after all. Suddenly, the whole system would be disrupted. Maybe, if we were lucky, financial institutions would quickly cobble together alternative arrangements. But it looks quite possible that default would create a huge financial crisis, dwarfing the crisis set off by the failure of Lehman Brothers five years ago.No sane political system would run this kind of risk. But we don’t have a sane political system; we have a system in which a substantial number of Republicans believe that they can force President Obama to cancel health reform by threatening a government shutdown, a debt default, or both, and in which Republican leaders who know better are afraid to level with the party’s delusional wing. For they are delusional, about both the economics and the politics.
And, remember, a minority of the party has got them into this spot. Instead of leading, John Boehner is being led. The tail is wagging the dog:
The votes to fund the government and raise the debt ceiling are there, and always have been: every Democrat in the House would vote for the necessary measures, and so would enough Republicans. The problem is that G.O.P. leaders, fearing the wrath of the radicals, haven’t been willing to allow such votes.
The Republicans made a Faustian bargain in 2010 and accepted the Tea Party into their tent. Now the crazies rule the roost.