As the United States comes ever closer to defaulting on its debts, corporate and Wall Street executives who for years have been bankrolling the Republican Party are beginning to get nervous. Their Republican Party has become a Frankenstein monster. These corporate patrons of the GOP don't mind a temporary shutdown, because their low taxes and special loopholes aren't affected, and many regulations aren't being enforced. But a default would cause bond prices to plummet, interest rates to surge, stocks to sink through the floorboards of the New York Stock Exchange, and the global entire financial system to suffer a major blow.
But what can the titans of corporate America do now that the monster they've created is on a rampage? Plenty. They can cancel all GOP funders, stop writing checks to Republican senators and representatives and instruct their corporate PACs do do the same, tell their Washington lobbyists to cease all activities on behalf of the GOP, and urge all their suppliers, contractors, and corporate customers to follow their lead.
In other words, they can starve the beast.
They can also tell the President that they will stand behind him when he decides to ignore the debt ceiling and continue to pay the nation's bills even if the monster throws a tantrum.
But what can the titans of corporate America do now that the monster they've created is on a rampage? Plenty. They can cancel all GOP funders, stop writing checks to Republican senators and representatives and instruct their corporate PACs do do the same, tell their Washington lobbyists to cease all activities on behalf of the GOP, and urge all their suppliers, contractors, and corporate customers to follow their lead.
In other words, they can starve the beast.
They can also tell the President that they will stand behind him when he decides to ignore the debt ceiling and continue to pay the nation's bills even if the monster throws a tantrum.
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