The Learning Curve

New tricks for an old dog.

If things end badly

Today from Carl Hulse at the New York Times:

“Now, with negotiations stalled and a potential default by the United States government just over the horizon, [Republican leaders] are being held to those promises by their own rank-and-file, leaving them in a bind that is defying easy resolution and putting them at risk of being blamed if things end badly.”

If things in badly and the United States defaults on any of its legitimate obligations, the Republicans will be blamed because they caused it to end badly.

“The grim truth is that one political party (and only one) — the Republican — has broken with the ethic of responsibility that until now has governed thinking and behavior on the public debt. The federal government’s obligation to meet its financial obligations to honor debt never before has been questioned. The notion that some partisan faction should threaten the solvency of the United States by blocking technical requirements unless its parochial aims were accepted did not enter the mind of legislators.”

Michael Brenner – Debt Roulette


Written by Tom Fox

07/14/2011 at 10:52 am

Posted in Politics

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