Can Wall Street Get the GOP House to Raise Debt Ceiling?

link here to article

Dean Baker argued that Wall Street would be damaged if the GOP House refused to raise the US debt ceiling. This article suggests that Wall Street has no influence over the 87 freshman reps in the House who wave the Tea Party flag. Consequently, it is foolish to believe that Wall Street can influence the House.

Perhaps the issue is whether the Tea Party has taken over the GOP, or whether it is just a splinter group within the GOP. The focus of the Tea Party on federal spending cuts, and tax cuts, is clearly consistent with the "starve the beast" tradition within the GOP well before the Tea Party came along. The role of the Tea Party is to get the vote out at the grass roots level. The GOP leadership, which can be influenced by large campaign contributors, has a tough balancing act on its hands.