Ted Cruz and the Oozlums have worked their will and the government has shutdown, at least in substantial part. (Newcomers to RINOcracy.com see Blog No. 12 for a definition of Oozlums.) Ironically, owing to the structure of appropriations laws, and arcane interpretations of the Anti-Deficiency Act, one part of the government that will not shutdown is…Obamacare. But elsewhere pain aplenty there will be.
Blog No 12 pointed out that a neither a shutdown, nor a default precipitated by a failure to raise the debt ceiling, are likely to escape punishment by the financial markets. Evidence of that result has already begun to accumulate. The losses in the stock market have thus far been manageable, but if the shutdown continues very long, or as the specter of default draws closer, the financial consequences will inevitably become more severe. At that point, Senator Cruz and the Oozlums will be widely recognized for their accomplishments as Wealthbusters. […]