In preparation for the next fight over the debt ceiling, Sen. John Cornyn (R-TX) is publicly downplaying the potential risk of the federal government going over its debt limit, mirroring what we heard from Sen. Pat Toomey (R-PA).
|By: Jon Walker Friday January 4, 2013 11:32 am|
|By: Jon Walker Wednesday January 2, 2013 2:20 pm|
Two months, that is basically how long until we see a re-run of this “we must stop this manufactured crisis moment so that means we must cut entitlements” game. This current tax deal delays the sequestration cuts for two months. In addition, the debt ceiling limit should also be reached in two months.
|By: David Dayen Monday November 28, 2011 10:30 am|
The main way that the US can insulate itself from the crisis in Europe is through continuing the fiscal state of emergency in the country, as the only ballast for growth. Unfortunately, we have a dysfunctional Congress, so the only way to realistically do this is to not slip backwards and turn fiscal policy negative by allowing several measures to expire at the end of 2012.
|By: inoljt Sunday September 25, 2011 7:00 pm|
This is a part of a series of posts analyzing the 2010 midterm elections. This post will analyze the Pennsylvania Senate election, in which Republican Pat Toomey won a narrow victory over Democrat Joe Sestak in a Democratic-leaning state.
|By: David Dayen Wednesday August 24, 2011 3:34 pm|
This has not pleased Ryan or his staffers. They threatened to call the cops on protesters on two occasions, and had police remove protesters at least once. They restricted the use of cameras. They restricted parking. And now, as you can see above, they shut down the offices in Kenosha to foot traffic and forced the public out of the building.
|By: David Dayen Wednesday August 10, 2011 10:00 am|
There were no real surprises among the choices made by John Boehner and Mitch McConnell for the Catfood Commission II. It’s perhaps interesting to note that Paul Ryan didn’t make the cut, but I guess Boehner figured that he’s toxic and therefore not a good face to put on the committee. Instead, Boehner picked two heads of other committees with jurisdiction over health programs and taxes, and made the chair a member of the original Catfood Commission as well as the House Leadership.
|By: masaccio Sunday June 5, 2011 10:40 am|
The demands of financial capital are bashing the brains out of the US economy, with the assistance of the Zombie Party.
|By: David Dayen Thursday May 26, 2011 4:42 pm|
Whether you think this is a kabuki dance or not (and I’m pretty certain the debt limit will be increased), it’s pretty clear that Republicans want to play out the string on this, and won’t stop until Wall Street makes some tangible signal to raise borrowing costs or come close to a meltdown. We are headed for the kind of moment we saw with TARP, where lawmakers agree to something under extreme pressure. As Digby says, that doesn’t usually go well.
|By: David Dayen Thursday May 12, 2011 9:36 am|
If you think that this is a good time, with the initial jobless rate rising and the economy fragile, to suck hundreds of billions of dollars annually out of the economy, then sure, this may be good news. Tax increases are favorable to spending cuts from the standpoint of economic multipliers, and a balanced solution favorable to one weighted entirely on cuts. I hear that Conrad’s budget includes a millionaire’s surtax, which of all these ideas is the least obtrusive, because you’re dealing with money that is otherwise lying fallow in a trust fund.
|By: David Dayen Friday April 8, 2011 7:58 am|
With just hours to go until a shutdown, it’s worth noting that there is a slight disconnect within the Republican caucus. As the truth leaks out that Planned Parenthood – Planned Parenthood! – is at the heart of the negotiations, some Republicans are experiencing discomfort.