US Chamber of Commerce losing patience with Republicans

U.S. House of Representatives Speaker John Boehner speaks at the Economic Club of New York May 9, 2011. Boehner, the top Republican in the U.S. Congress, on Monday laid down a tough new yardstick in talks over the nation’s debt, telling Wall Street that spending cuts must exceed any boost to the U.S. borrowing limit. REUTERS/Shannon Stapleton (UNITED STATES – Tags: BUSINESS POLITICS)

The Chamber of Commerce supported Republicans in 2010 with a ton of financial support, assuming that the GOP would be pro-business. Instead, the House Republicans and most Republican Senators are more than happy to hold the American economy hostage to their ideological demands.

The Chamber of Commerce sent a letter to Congress on Friday urging legislators to quickly raise the debt ceiling, while also warning of catastrophe should the government continue spending at its current rate.

The Chamber, which represents business interests, helped elect many of the Republican members of Congress who are now threatening to vote against raising the debt ceiling. Republicans are demanding major cuts to government spending and long-term programs in return for their support.

The Chamber understands the consequences of messing around with the full faith and credit of the United States, while the Tea Party crowd seems happy to let the whole system collapse just to make a point. Remember the TARP vote and how many Republicans were willing to let all the banks collapse? Nobody should be surprised.


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