You really have to wonder whether House Speaker John Boehner is purposefully trying to tank the U.S. economy and possibly the world economy with his reckless statements.
Two days ago, Speaker Boehner poured a big steaming bowl of economic uncertainty into the U.S. markets by announcing a return to debt-ceiling brinksmanship--that Republicans would be using the specter of a U.S. bond default to enact their extremist, radical slash-and-burn budget.
Not content with the uncertainty that he had created at home, Speaker Boehner today turned to roiling markets in Europe by commenting, "What’s going in Greece, and the effect it’s having on Spain … it’s quite likely that this contagion is going to continue."
To be sure, the U.S. and E.U. economies face real challenges. Their problems shouldn't be sugar-coated and their structural deficiencies must be addressed. But to artificially inject the possibility of a default into the U.S. markets and to blithely comment that financial "contagion" is likely across Europe risks a wider financial panic.
Perhaps that's what the Speaker has in mind.
