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Thursday, June 16, 2011

Wall Street Ryan: Bosses OK With Default For a Few Days

Congressional Oath of Office

I do solemnly swear that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I will take this obligation freely, without any mental reservation or purpose of evasion, and that I will well and faithfully discharge the duties of the office on which I am about to enter. So help me God.

With talk about allowing the government to go into default paying its bills, GOP Budget Czar Paul Ryan checks in first with the people who matter - Wall Street. “Hey guys, are you going to be okay if we default for a few days?” Sure, Paulie, just make sure it doesn’t last more than that.

TPM Excerpt:
Worried about the debt ceiling fight coming down to the wire and freaking out the world's financial markets? Don't be, says Rep. Paul Ryan (R-WI). The investors he talks to could apparently care less about the country failing to pay its short-term debts, for a little while at least.

Stan Collender, a veteran of many Capitol Hill budget fights and a budget policy expert, said talk like that could be very dangerous. "There's obviously no way to know for sure because we've never really been in that situation," he said. Collender also rejected Ryan's idea of a three-day default as "ridiculous."

While most in Congress engage and connect with their home district's constituents, oftentimes to face critical dissection in an effort to articulate their particular district's position on an issue as important as the debt ceiling, Ryan works in the exact opposite fashion. He's well rehearsed in an ideologically baked marketing scheme fully approved by his Wall Street masters - and is charged with selling it not only to his subservient constituents, but to the entire country.

Besides campaign contributions, Ryan has a long history of legislative planning with Wall Street. When Ryan initially unveiled his roadmap to dismantle and destroy Medicare and Social Security - he presented it first to those that mean the most to him - the barons on Wall Steet. They applauded. So it figures that when it comes to defaulting on the full faith and credit of the U.S. Government, it's only natural for Ryan to go straight to his boss once again – Wall Street.

At his upcoming summer townhalls, his constituents in the meantime will undoubtedly be fed more of his Heritage Foundation charts and powerpoint presentations explaining that since Wall Street could apparently care less about the country failing to pay its short-term debts, why should his constituents care? This coming from a person who supposedly made the nation's ability to pay its debt his top priority.

The Paul Ryan Watch - Ryan Says it's OK For U.S. To Default On Debt

Democurmudgeon - When Confronted Or in Debate, Ryan Fails

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