The Crisis is Finally Ripe Enough for the Cowardly Boehner to Act

By: Wednesday October 16, 2013 7:16 am

Boehner basically let the government shut down for three weeks, did significant damage to the economy, showed his own weakness and destroyed his party’s brand just to try to hold on to his position. A position that is almost meaningless because he has prove he has almost no actual power. He preferred to let all these things happen rather than stand up to the roughly 50 Tea Party members in his caucus.

14th Amendment Was Designed to Stop a Bunch of White Southerners From Messing with the Government

By: Tuesday October 15, 2013 8:50 am

There was a time when there were serious concerns that that a bunch of Southern white male politicians, unhappy that they didn’t win a previous presidential election, would use default to try to get their way — or to simply ruin things for everyone else out of spite. That time was right after the Civil [...]

The Moment of Truth for Obama

By: Monday October 14, 2013 9:58 am

We are fast approaching the moment of truth for President Obama. The moment that will define his second term. Obama has repeatedly claimed he will not negotiate over the debt limit and will not make concessions to see the debt limit raised or the government opened. Now that we are days away from the October [...]

Obama’s Credibility Problem

By: Wednesday October 9, 2013 10:38 am

It would appear the basis of Obama’s legislative tactics has been to try to be too clever by half. Instead of directly going out stating his preferred position and accepting/rejecting whatever compromise could be reached, Obama seems to have always thought he could get more through subterfuge.

If Debt Ceiling Is No Big Deal Why Is it Leverage?

By: Wednesday October 9, 2013 9:20 am

Refusing to raise the debt limit can theoretically give you significant leverage, but only if the debt limit is very important. If it is not a big deal you can’t justify making a big demand over it.

Too Early and Too Late for a Solution

By: Monday October 7, 2013 8:30 am

We have entered a very bizarre phase in this current government shutdown saga where it is probably both too late and too early for a solution to likely emerge. Since Speaker Boehner didn’t deal with the shutdown right away it is unlikely much will happen until we got close the the debt ceiling limit on the 17th. This means probably another several days of shutdown.

And How Many Divisions Does the Federal Reserve Have?

By: Friday October 4, 2013 8:05 am

Mark A. Patterson, senior fellow at the Center for American Progress, has made what I consider to be one of the worst arguments against the minting a trillion dollar platinum coin to deal with the debt ceiling. From Wonkblog: The coin is a clever, nifty idea but it has problems. The one that gets overlooked [...]

Obama Seems to Realize if He Fails Now He Could Become the Worst President Ever

By: Thursday October 3, 2013 7:58 am

I’m happy that President Obama’s and Congressional Democrats leaders’ reaction to John Boehner’s offer to seek a grand bargain to get out of this current crisis was to basically laugh in his face. Obama has been very public about saying he will not negotiate over the debt ceiling, but this flat out refusal to entertain [...]

Government Shutdown Might Be the Least Bad Option

By: Monday September 30, 2013 7:03 am

Government shutdowns are damaging, inconvenient and stupid but they are also manageable. We’ve had over a dozen in the last century. As a country we know how to handle them. On the other hand a default by failing to raise the debt limit is unknown territory. The implications could be very bad. Even getting close to the deadline last time cause a credit downgrading, an increase in borrowing cost, and a noticeable hit to the market.

Debt Limit Deadline Is October 17

By: Wednesday September 25, 2013 9:03 am

We now have an official debt limit deadline. Today, Treasury Secretary Jack Lew sent Congress a letter informing them there will not be enough cash on hand to pay all our bills starting October 17. That is the date by which Congress needs to raise the debt limit or risk causing significant financial damage. From [...]