Fascinating nugget in POLITICO’s Morning Money today.
Apparently John Boehner has been reaching out to Wall Street, trying to get a sense of when financial markets will get spooked by GOP hesitance in raising the debt ceiling.
“They don’t seem to understand that you can’t put everything back in the box. Once that fear of default is in the markets, it doesn’t just go away. We’ll be paying the price for years in higher rates,” said one executive.
The manoeuvring on this subject are going to be fascinating and huge over the next few weeks.