The bluff succeeds!
So the most avid defenders of the top layer of society threaten to default on the public debt owed to the top layer of society if we don’t cut programs aimed at helping the vast majority. What guts! – no poker player could ever survive making plays like this and any representative remotely interested in defending the majority could only laugh at such an incredibly pathetic bluff. Can you imagine the reaction of the right with a mirror image threat from the left – say a default on medicare or social security unless taxes were raised on the wealthy?
There’s only one conclusion to be taken from this fiasco: congress and the president have little interest in the majority and are bipartisanly taking advantage of a sterile threat to move society backwards towards early 20th century laissez faire. Welcome to the era of ever purer Robber Baron Democracy!