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Yoho Thinks Default Would be Great

Rep. Ted Yoho is one of the new class of Tea Party Republicans in Congress and he is quickly proving to be one of the most ignorant and delusional. In an interview with the Washington Post, he actually claimed that defaulting on the federal debt could be a good thing for financial markets.

Now, Yoho is ready for a bigger fight. He doesn’t want to raise the debt ceiling — ever again. The experts, and Republican leaders, say that would trigger a financial catastrophe.

But Yoho didn’t listen to them about the shutdown. And look how that turned out.

“I think we need to have that moment where we realize [we’re] going broke,” Yoho said. If the debt ceiling isn’t raised, that will sure as heck be a moment. “I think, personally, it would bring stability to the world markets,” since they would be assured that the United States had moved decisively to curb its debt.

This is so utterly contrary to reality that it amounts to a delusion. No one on Wall Street believes that. No one in the Treasury Department believes that. No economists that I know of believe that. In fact, the Treasury Department recently issued a report saying that default would likely create “a recession more severe than any seen since the Great Depression.” Once again we see that the wingnuts are simply living in a different reality, one of their own creation that exists only in their minds. Facts just don’t matter.

Comments

  1. colnago80 says

    Ten bucks says that Yoho is a climate change and evolution denier also. However, don’t blame Yoho for being a moron. Blame the morons who elected him to office.

  2. Randomfactor says

    I blame the warning labels on consumer products. Without them, evolution would’ve eliminated the teabaggers years ago.

  3. eric says

    Well colnago80, you win at least $5. Here are his issue positions, and yep, he’s a climate denialist. Nothing in there specifically about the TOE, though I note he wants to eliminate the Department of Education entirely.

  4. eric says

    “I think we need to have that moment where we realize [we’re] going broke,”

    AIUI, defaulting is not analogous to realizing we’re going broke, it’s analogous to declaring bancruptcy. Default tells your creditors you don’t intend to pay them (or at least some of them) back.

  5. daved says

    He also wants to maintain spending on all the big entitlement programs, and defense, but doesn’t want to raise taxes, wants to get rid of all the taxes we have now (basically) and wants to implement the Fair Tax (which I gather is some sort of national sales tax, but I’m too lazy to look it up).

    He actually has a few reasonable positions. They are greatly outnumbered by his idiot positions.

  6. says

    Hey, a default would be GREAT for Goldline!

    Blame the morons who elected him to office.

    Um, no, we should be blaming the people who redrew the map of his electoral district to make his seat secure for Republicans. This is why the entire Republican House is so insane: they’ve effectively insulated themselves from accountability to the people. That’s the ONLY reason any of them are able to be this insane and irresponsible.

  7. Hercules Grytpype-Thynne says

    All Obama has to do is come out in favor of default, and the wingnuts will stumble all over themselves in their rush to prevent it.

  8. colnago80 says

    Incidentally, Yoho is a veterinarian by trade I wonder how he made it into Vet school as it’s harder to get into a school of veterinary then it is into med school.

  9. chilidog99 says

    It makes sense that he is a large animal veterinarian. Every te he speaks, it sounds like it’s coming out of a horse’s ass.

  10. colnago80 says

    Re Raglng Bee the Fairfax finagler.

    Yoho primaried the incumbent Rethuglican Congressman who apparently wasn’t sufficiently insane.

  11. eric says

    @7

    He also wants to maintain spending on all the big entitlement programs, and defense, but doesn’t want to raise taxes, wants to get rid of all the taxes we have now (basically)

    Yeah, I guffawed at that too.

    and wants to implement the Fair Tax (which I gather is some sort of national sales tax, but I’m too lazy to look it up).

    Its a flat 23% sales tax, combined with a rebate to offset spending on necessities.

  12. says

    When I went through a tough time, I had to borrow money from the bank. I cut and I cut, but it wasn’t enough. So, instead of borrowing more (or, worse, spending less on guns and ammunition, because Freedom), I went to the bank and told them I wasn’t going to pay them back.
    That didn’t seem to calm them.
    So, long story short, they came and took all my stuff. And they won’t lend me money anymore. I don’t know why; I mean, they know I’m not good for it!

  13. D. C. Sessions says

    No economists that I know of believe that.

    Well, I can’t tell whether he believes it or not, but Martin Feldstein is on record supporting it.

    There are some pretty nice perks to being the go-to economist for the right wing of the right wing, even if they’re really only available to those who already have tenure.

  14. D. C. Sessions says

    Sorry, Modus, but not only is that not up to your usual standard but Area Man actually beat some of your best.

  15. raven says

    In a worse case scenario, idiots like Ted Yoho and the Treason Party would have a major accomplishment.

    They would succeed where the Germans, Japanese, Soviet Russians, British, southern Rebels, Gray UFO Aliens, satan, Canada, and al Qaeda failed.

    At destroying the USA.

    And proving Toynbee right. According to Toynbee, 19 out of 22 civilizations that fell, fell from within.

  16. Trebuchet says

    @21, Raven:

    They would succeed where the Germans, Japanese, Soviet Russians, British, southern Rebels, Gray UFO Aliens, satan, Canada, and al Qaeda failed.

    Wrong. Canada, through their native son Ted Cruz, is succeeding.

  17. raven says

    Wrong. Canada, through their native son Ted Cruz, is succeeding.

    Oh. A sleeper agent!!!

    Does that mean when Canada wins the War of 2013, we get Loonies, Tim Horton donuts, and Universal Health Care?

    A lot of us would surrender immediately. Anything but Ted Cruz.

  18. lorn says

    Yoho is one of the representatives for my area, I would apologize but I worked, and most certainly voted, against him.

    I got thinking about who Yoho is and why he is taking the stance he is. It seems nonsensical. But then it dawned on me that he, and/or his family, may be survivalists.

    Years ago, before I grew up, I used to be involved, IRL and internet, with the survival/survivalist community and Yoho sounds a lot like someone I knew in this area who had prepped and inculcated themselves to the point where they really looked forward to a massive, disruptive, possibly bloody, transition event to an idealized future.

    If Yoho is the person who posted under the pseudonym I’m thinking of he is actually looking forward to hunkering down on his well equipped and supplied rural ranch as TEOTWAWKI rolls over the nation. He and his will be sucking down freeze-dried meals, and range fed cattle, as the underclasses and unproductive starve or die in struggles over limited resources. It is “going Galt” without having to move very far.

    Then, according to the preferred story line, once the underlings have died off, or at least been shown their place and accepted their secondary status, the producers will emerge and recreate the US system in a form more to their liking. This philosophy may, or may not, be under-girded with a Bible-thumping a Christian/Dominionist slant.

    Of course he might not be that guy. Hard to say. Might be interesting to look up any properties he or his family own. It might not tell you much if they have thought it all through. The first rule is to stay quiet about plans and supplies you have socked away. It wouldn’t do to have less prepared neighbors show up on the doorstep or, worse, demand their fair share en-mass and armed. No emergency larder or survival battery can hope to do more than blunt the predations of the mythical, imaginary, “Golden Hoard” if the underclasses know where your base is. Discounting liberals having their way politically, that is the deepest fear of survivalists.

    The good news is that Yoho is obviously, survivalist or not, one sick puppy. But he is also just one of 435. Hopefully common sense will prevail and Yoho will have to find another way of playing out his heroic fantasies.

  19. The Beautiful Void says

    @26, Raven:

    Does that mean when Canada wins the War of 2013, we get Loonies, Tim Horton donuts, and Universal Health Care?

    This is the second time the Canadians have destroyed Washington DC. Someone should do something about them…

  20. yoav says

    “I think, personally, it would bring stability to the world markets,”

    Sure, the same way that slitting someone’s throat would stabilize their medical condition.

  21. eric says

    Yoho sounds a lot like someone I knew in this area who had prepped and inculcated themselves to the point where they really looked forward to a massive, disruptive, possibly bloody, transition event to an idealized future.

    Just another version of the “get society to build the ladder, then pull it up after me” ideology. Take that great health, education, and prosperity that you’ve been provided, and then hope the system that provided it to you goes away so you don’t have to pay back into it.

  22. abb3w says

    I suspect that an inability to keep this sort of delusional ignoramus out of positions of decisive social influence can become disadvantageous in the natural selection aspects of cultural evolution.

  23. scienceavenger says

    @11 The smarter someone is, the better they are at deflecting criticism from their delusions.

  24. says

    Yoho primaried the incumbent Rethuglican Congressman who apparently wasn’t sufficiently insane.

    Yes, and it was gerrymandering on steroids that made such primary challenges possible. You can’t blame voters exclusively when the legislators are redrawing the electoral districts.

  25. lorn says

    I add that Yoho’s mention of default “would bring stability to the world markets” is in line with the Austrian school of economics which claims that deflation is the cure for all our financial ills. It has to be noted that the Austrian school of economics is also the favorite of many survivalists, conspiracy theorists and gold hoarders.

    An interesting read on the for-profit fear industry and their promotion of the Austrian school:

    http://www.nakedcapitalism.com/2013/02/philip-pilkington-the-fear-industry-austrian-school-propaganda-and-the-gold-market.html

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