The tea party vs. big business: A coming GOP civil war over the debt ceiling?

Tea Partiers hate government more than they hate the national debt. Their real aim is to shrink the government. That’s why they refuse to reduce that debt with tax increases, even with tax increases on the wealthy. A tax increase doesn’t reduce the size of government.

But the Street and big business dislike the national debt more than they dislike government. They wouldn’t even mind a small tax increase on wealthy people like themselves in order to cinch a deal on raising the national debt. They have so much money, they’d scarcely notice.

In truth, government has been good to Wall Street and big business. It bailed out the Street. It saved GM, Chrysler and AIG. And most government spending improves the profits of big businesses – military contractors, big agriculture, giant health care insurers, Big Pharma, large construction companies.

Tea Partiers have almost as much contempt for big business and the Street as they do for government. After all, the Tea Party was born in anger over the Wall Street bailout.

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