While most eyes were trained on the State of the Union address (or a burning cabin in California), PBS on Tuesday aired a documentary on the ongoing fiscal deadlock in Washington titled, "Cliffhanger." In it, the House Speaker John Boehner is portrayed as hopelessly trapped between an equivocating and untrustworthy President Obama who "poisoned the […]

Last summer, John McCain was asked about his vote for the August 2011 Budget Control Act, a law which starting March 1st will slash defense spending by $500 billion over the next decade. "I plead guilty. It was a bad thing to do, OK?" But now in his latest effort to avoid just the first […]

In his 2005 book What's the Matter with Kansas, Thomas Frank provided a case study in how conservatives in his home state successfully used social issues to get working class Americans to consistently vote against their economic self-interest. But that formula failed spectacularly in 2012, as Republicans nationally hit the brick wall of America's changing […]

When John Boehner picked up the Speaker's gavel in January 2011, he also laid down some new rules regarding the U.S. national debt. Despite the near-doubling of the red ink and the seven debt limit increases under President Bush (all of which Boehner supported), the first Boehner Rule demands "cuts and reforms greater than the […]

While Congressional Republicans are threatening to trigger a U.S. default if their debt ceiling blackmail is not paid, their allies in the conservative blogosphere are deploying the same chart to attack President Obama's supposedly out-of-control spending. But their horrifying picture of the yawning gap between in federal receipts and outlays between 1999 and 2012 isn't […]

One day after New York Times columnist and Nobel Prize-winning economist Paul Krugman described Republican brinksmanship on the debt ceiling as "hostage-taking," President Obama used his Monday press conference declared, "They will not collect a ransom in exchange for not crashing the American economy." But you don't have to take their word for it that […]

During their rare moments of candor, Republicans leaders agree with President Obama that failing to raise the U.S. debt ceiling would be "catastrophic." Two years ago, Speaker John Boehner acknowledged "that would be a financial disaster, not only for our country but for the worldwide economy." Senator Lindsey Graham concurred, warning that not lifting the […]

As part of their never-ending campaign to canonize President Ronald Reagan, conservatives three years ago proposed replacing Ulysses S. Grant on the 50 dollar bill with the likeness of the Gipper. But while his hagiographers mercifully failed in that quest, a new and altogether fitting denomination has emerged to memorialize Reagan. The much-discussed one trillion […]

As McClatchy and the New York Times among others have documented, Senators and Representatives in the minority party have often voted against debt ceiling increases. Whether motivated by opposition to larger spending or tax legislation, or as a symbolic vote to embarrass the president and his Congressional majority (as Senators Obama and Reid did in […]

With the fiscal cliff averted, Congressional Republicans are turning to their next--and more important--hostage. Without draconian spending cuts, they promise, the GOP will block any increase in the debt ceiling of the United States. In response, President Obama said, "I will not have another debate with this Congress over whether or not they should pay […]