In a follow-up to yesterday's Politico article, the Washington Bureau of The Business Journals quoted Thorn Run Partners' Jason Rosenstock on the effect chaos in the Republican Party will have on upcoming negotiations over raising the debt celing. According to Rosenstock, the scramble for the Speaker's position "will reinforce those who want to have Boehner raise the debt ceiling before he leaves."
House Republican turmoil makes business nervous as debt limit looms
For business, the most critical issue is making sure the U.S. government doesn’t default on any of its debts, something that could happen if Congress doesn’t raise the government’s debt limit. That would create turmoil in financial markets and shake business confidence.
(By the way, raising the debt limit doesn’t increase federal spending — it just authorizes the government to pay bills for spending that’s already been approved.)
Business lobbyists hope Boehner will stick around long enough to cut a deal on raising the debt ceiling.
"I'm certain Boehner will not allow the government to shut down," Sam Geduldig, a partner at CGCN Group told Roll Call. “I’m certain Boehner will not allow us to default on our debt."
Jason Rosenstock of Thorn Run Partners told Politico that he thinks Thursday’s chaotic day for House Republicans “will reinforce those who want to have Boehner raise the debt ceiling before he leaves.”