Republicans still smarting from the fiscal cliff deal that raises taxes on high income earners shouldn't get their hopes up for the next fight with President Barack Obama. That's coming from a participant in the year-end standoff, former Rep. Denny Rehberg.
The MT Republican, who lost a Senate bid in 2012 and just left Congress, says Republicans have no leverage in the upcoming debt-ceiling debate, The Hill reports.
"If you don't raise the debt ceiling, the financial markets melt down, then who's mad at you? Well, every Republican out there who's in small business, who needs credit, who needs a sound banking system starts calling Republicans saying, 'Cave, cave, you've gotta give in, you've gotta cut a deal,'" Rehberg said. "If they become obstructionists, what power do they have? Well, shutting government down? No, because if we do that we lose our support with the public."
President Obama and the Democrats want a clean debt-ceiling increase, with a broader talk about taxes, entitlements and spending to follow. Republicans, however, want to marry spending cuts to the debt-ceiling hike, viewing that legislation as their best chance to hold the Democrats' feet to the fire and force significant reductions.
Via The Hill.