Calls out GOP ‘grandstanding’
debt ceiling
Warren Buffett: Debt Ceiling Dispute Is Pretty Damn Dumb
The sage of Omaha says the market won’t fall apart over government shutdown brinksmanship because investors expect Washington to act “irrationally” for only so long.
The Trillion Dollar Coin Fantasy: GOP Extremism Can’t Be Wished Away
Platinum coins can’t make congressional Republicans disappear, and platitudes won’t make them cave. If Obama wants a debt ceiling deal, he’s going to have to pay a ransom.
Is the Debt-Ceiling Hostage Scenario Really Bound to Repeat Itself?
The conventional wisdom now dictates that every time a debt-ceiling hike comes up for a vote, Republicans will threaten to torch Uncle Sam’s credit rating unless their demands are met. Just take Senator Mitch McConnell, …
How the Debt Deal Sets Up Washington for a Bitter Tax Fight
Now that a compromise has been reached to raise the debt limit, there is a good chance that the political climate in Washington is going to get worse. And the reason can be found on Page 49 of the bill that President Obama signed into law on Tuesday: “On January 2, 2013, for fiscal year 2013, OMB shall calculate and the President shall …
Mutually Assured Revulsion: Why Americans Hated the Debt Debate and Why It’s Not Going to Change
Pew came out with a new poll on Monday confirming what we all already knew: The American people think the last several weeks in Washington have been a disgrace. In fact, the words most often volunteered to the pollsters were …
Gabby Giffords Offers Momentary Reprieve from Washington Shrillness
The tone of the past month of debt negotiations has hardly been Washington’s finest hour. In fact, the most popular words to describe the situation, according to a recent survey by the Pew Research Center, were “ridiculous,” …
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 …
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 …
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 …
Reid Endorses Debt Deal, but Partisan Reservations Remain
Updated, 6:35 p.m.
Democratic Senate Majority Leader Harry Reid ‘s office announced late Sunday that he had signed off on a deal to raise the debt ceiling and enact $2.4 trillion in budget cuts, pending agreement from his …