Business and Republicans: Appearances Are Not Necessarily Reality

The NYT ran a piece telling readers that business leaders do not have the same influence with Republicans in Congress that they had in the past, noting in particular their differences on using the debt ceiling as a bargaining chip in budget negotiations. It is important to note that the fact that politicians are willing to say that they would be prepared to push the government to a default doesn't mean that they actually would push the government to default.

It is relatively costless for a po...