Politics
Gov’t Shutdown giving Obama unlikely ally: big business
Interviews with House Republicans from all regions of the country demonstrate the corporate community’s waning clout. Most of these lawmakers say local business owners and chambers of commerce have not raised the potential economic downside of a government shutdown or debt default.
Rep. Ted Poe, R-Texas, like many of his colleagues, said the overwhelming message he hears from business owners is their dislike of Obama’s health care overhaul, which is at the center of Congress’ impasse and the government shutdown. Likewise, Rep. Steve Chabot, R-Ohio, said he mostly hears business owners complain ‘‘about the negative effects of ‘Obamacare’ upon their ability to do business and hire people.’’
When Rep. Dana Rohrabacher, R-Calif., was asked if he had heard business groups express fears of a government shutdown’s economic impact, he replied: ‘‘No. And it wouldn’t make any difference if I did.’’
Still, major business groups are raising alarms, citing the economic cost of a shutdown and warning of even more serious consequences if Congress does not act quickly to raise the US$16.7 trillion borrowing limit, which the government is expected to hit around mid-October.
The letter circulated by the Chamber of Commerce urges lawmakers to raise the debt ceiling ‘‘in a timely manner and remove any threat to the full faith and credit of the United States government.’’ It also acknowledges Republican fears over the unsustainable growth of major benefit programs such Medicare and Social Security and the need for a more business-friendly tax system.
But in a rejection of the tactics of House Speaker John Boehner, the letter urges Congress to pass first a short-term spending bill, then raise the debt ceiling, ‘‘and then return to work on these other vital issues.’’
That advice is being ignored by the Republican-led House.
