Oct 17, 2013

Wisconsin's Suicide Caucus—Ron Johnson, Four Wisc GOP Reps Vote for Gov Default

Paul Ryan leads Wisconsin Suicide Caucus; Now Looking to Slash
Social Security, Medicare and Medicaid as Their Next Crusade

Update - China's credit rating agency Dagong has downgraded the U.S. rating from A to A-, reports the Business Insider.

Five out of six members of the Wisconsin Republican congressional delegation voted not to open government, and avert an unprecedented financial default in a vote late last night.

This manner of Tea Party campaign is incredibly reckless action that has world economists wondering if Republican Party extremism will destroy the United States Dollar as the world's reserve currency.

Wisconsin Republicans did their worst.

U.S. Senator Ron Johnson of Wisconsin is one of only 18 senators to oppose the Senate bill opening government, and avoiding a government default that economists say would have thrown the United States back into a recession.

Reps. Sean Duffy (R-Ashland), Tom Petri (R-Fond du Lac), Paul Ryan (R-Janesville), James Sensenbrenner (R-Wauwatosa) all voted "No" in joining Sen. Johnson.

Rep. Reid Ribble (R- Green Bay) is the only Wisconsin Republican in Congress to vote Yes to opening the government and avoiding default.

The Republican-engineered shutdown is estimated to have cost the U.S. domestic economy and American families $Billions is lost income and economic production.

The House voted 285-144, with all 144 No votes coming from Republican members of Congress.

The Senate voted 81 to 18, with all 18 No votes coming from Republican members of Congress.

The shutdown, perilous to the American economy, is also seen as a political body blow to the Tea Party or suicide caucus to which most Wisconsin Republicans have attached themselves.

Around the world, there is relief as well as disbelief that Republicans would perpetrate the 16-day shutdown bringing the United States of America close to default and financial catastrophe.

James Meikle, Paul Lewis and Dan Roberts report in The Guardian:
Stock markets in Japan, China, Hong Kong and South Korea initially reflected relief after the Republicans finally capitulated in their failed attempt to undermine Obama's healthcare reforms. But in Asia and Europe stock markets overall displayed a muted reaction with traders apparently expecting another battle in Washington early in 2014.

The shutdown is estimated to have cost the US $24bn – £1.5bn a day – according to ratings agency Standard and Poor. China's official Xinhua news agency had accused Washington of jeopardising other countries' dollar assets. China is the US government's largest creditor.

Obama signed the necessary legislation to fend off a default shortly after midnight on Thursday after a Republican split in the House of Representatives. The bill had passed easily with broad bipartisan support in the Senate, where Democratic and Republican leaders forged the agreement. It offers a temporary fix, funding the government until 15 January and raising the debt ceiling until 7 February.

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