The press gallery in the House of Representatives is a balcony facing the great semi-circle of seats. Reporters can scrutinize the faces of politicians as they make their arguments. They can also see large digital clocks on the adjacent walls that tally up the votes and count down the seconds of legislative business. One such clock …
House Passes Debt Deal as Gabby Giffords Makes a Celebrated Return
The House passed a bipartisan measure 269-161 to trim federal deficits and raise the debt ceiling on Monday evening, with Democratic and Republican leaders sewing together a loose, centrist coalition to overcome the objections of …
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CNN
Right now, as I write this, CNN is interviewing Donald Trump about the debt ceiling deal. This is the same dude who pulled everyone’s chain last spring, “running” for President to boost his reality-show’s rating, by saying some of the most outlandish stuff imaginable about the President. And CNN is consulting him as someone who might …
Corporate Interests Back the Debt Deal. Do They Regret Funding the Tea Party’s Rise?
Of the few clear truths in Washington’s nearly resolved debt debate, there is this: House Republican freshmen made good on their promise to vigorously push President Obama, and Democrats, toward fiscal austerity. They were elected to Congress last November with the help of some $34 million in campaign advertising from the U.S. Chamber …
Trading Hostages: Why Lobbyists Are a Key Part of the Debt-Limit Deal
In the final debt limit compromise, Republicans and Democrats agreed to swap out the hostages. Gone is the threat of defaulting on U.S. bonds by refusing to raise the debt ceiling. In its place: Medicare providers and defense …
Five Things for Liberals to Like in the Debt Ceiling Deal
As the broad strokes of the debt ceiling deal began to leak out over the weekend, progressive groups filled reporters’ inboxes with outraged e-mails. “Seeing a Democratic President take taxing the rich off the table and instead push a deal that will lead to Social Security, Medicare, and Medicaid benefit cuts is like entering a …
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Profile in Cowardice: Mitt Romney Rejects the Debt Deal
Mitt Romney demonstrates, yet again, why he lacks the character for higher office:
“As President, my plan would have produced a budget that was cut, capped and balanced – not one that opens the door to higher taxes and puts defense cuts on the table. President Obama’s leadership failure has pushed the economy to the brink at the
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Krugman Quibble
I agree with most of what Paul Krugman has to say about the debt deal–with one crucial exception. He’s right that Obama should have included raising the debt ceiling in last December’s tax deal…but he’s wrong, I think, about the President using what we’ll call “constitutional means”–the 14th Amendment–to blow past this silly, …
The Debt Limit Compromise: A Likely Short-Term Drag on Jobs
Exit polls from last November’s midterms left little ambiguity about the issue that motivated most voters: 63% listed “the economy” as the most important issue. When asked the top priority for Congress in 2011, only 40% said “reducing the budget deficit,” while 55% said “cutting taxes” or “spending money to create …
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The Debt Ceiling Deal Deconstructed
The ever-rational Matt Miller nails it. We are a joke.
Morning Must Reads: Framework
- Here’s the White House’s fact-sheet on the debt-ceiling deal. The legislation itself can be found here.
- What you need to know: The framework prescribes no new taxes and deep spending cuts, many of which could come from defense and security spending, over the next 10 years. It also would avoid another debt-ceiling fight next year and
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With Debt Deal Reached, Can Congress Swallow Its Own Bitter Medicine?
If the definition of a compromise is something that most folks don’t like, then the $2.4 trillion debt-ceiling deal worked out over the weekend by President Barack Obama and GOP leaders in Congress is a resounding …