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Monday, August 21, 2017
debt default

House Republicans’ Suicide Pact

As America lurches toward new and unfamiliar status as a nation that defaults its debts, commentators around the world are wondering how the democratic government that was once the most admired in the world – for many reasons – is now so “dysfunctional,” to use the polite term. But the truth is that the entire […]

July 20, 2011

Obama to GOP: “Don’t Call My Bluff”

WASHINGTON (AP) — President Barack Obama bluntly told Republican congressional leaders Wednesday they must compromise quickly if the government is to avoid an unprecedented default, adding, “Don’t call my bluff” by passing a short-term debt limit increase he has threatened to veto. The presidential warning, directed at House Majority Leader Eric Cantor, R-Va., marked an […]

July 14, 2011

Obama Runs Out Of Patience

At long last President Obama seems to have run out of patience with the truculent Republicans who have rejected all of his overtures for a budget deal — just as Moody’s and other economic authorities again warned of the potentially catastrophic consequences of a debt default. On Wednesday afternoon, Obama finally stood up at the […]

July 14, 2011

Report: Geithner Rules Out Constitutional Option on Debt Limit

Treasury Secretary Tim Geithner apparently told lawmakers in the private bipartisan debt ceiling talks yesterday that the so-called Constitutional Option, or invoking the 14th amendment guarantee that “[t]he validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or […]

July 8, 2011

Why Is The White House Considering “Significant” Cuts To Social Security?

Republican leaders in Congress, who were staring down the Democrats over a potentially disastrous debt default only days ago, are suddenly blinking so fast that they might be signaling in Morse code. Although their message is muddled and illogical – with House Majority Leader Eric Cantor (R-VA) saying he can accept closing tax loopholes only if […]

July 7, 2011