Wednesday, July 20, 2011

Counterrevolution: GOP Elite Revolts Against Tea Party

Mainstream Republicans are increasingly nervous about their party's hard-line stance in the debt limit debate. They think it is likely to backfire, and are blaming the tea party.

Wealthy GOP donors have been in contact with House Majority Leader Eric Cantor (R-VA) encouraging him to accept tax increases as part of a deal to raise the debt ceiling and lower the deficit, POLITICO reports. Cantor is among the most outspoken congressmen in opposition to new revenues, and any shift by him would dramatically change the political calculus of a debt deal.