The Wrong Horses

In light of recent Republiclown intransigence on raising the federal debt ceiling, Washington Monthly’s Steve Benen asks the question: Which U.S. political party is really “pro-business.”

Under the first two years of the Obama presidency, economic growth was restored, corporate profits soared, the major Wall Street indexes rocketed up, and nearly all of the job creation was limited to the private sector. The Chamber of Commerce crowd, unsatisfied, invested heavily in Republican candidates, hoping they would create a climate even more business friendly.

News flash, business community: you invested in the wrong horses.

Jon Chait noted today that if Republicans block a debt-ceiling increase before August 2, “The business elite will decide that the Republicans are dangerous and must be stopped.”

I think that’s true. I also think the business elite should have thought of this last year.

You can find Benen’s full remarks here.

READ MORE: “Yes, the Tea Party Is Insane,” by Kevin Drum (Mother Jones); “Why Conservatives Can’t Afford Government Default,” by The Opportunity Agenda (MyDD).