debt ceiling

  • The Debt Deal is "Bad for Everyone": Jim Livingston on the Latest Developments

    by David Austin Walsh

    What’s your reaction to the latest news out of Washington, that a bipartisan deal has been hashed out by top congressional leaders and the White House?The latest news is bad for everyone, because the deal being worked out is pretty much what the Republicans wanted, minus the balanced budget amendment that the radicals demanded late last week.  Another six months is not enough to calm the markets, and not enough to satisfy Obama's base, so he loses both ways.  Only by misreading this country as center-right could the president "triangulate" in such a pointless manner.  He can be re-elected, but not if he keeps tacking right.You mentioned this in your latest article for HNN: one hears this cry again and again: households have to balance budgets, and the federal government must do the same. Where did this talking point come from?