Fiscal Responsibility

Harsh words for Republicans, but true ones, from economics writer Andrew Leonard:

The Republican Party is on the cusp of one of the greatest self-inflicted disasters since a crack cadre of two-bit bumblers broke into the Watergate Hotel. Early Thursday evening, John Boehner could not count on enough Republican votes to pass his own debt ceiling bill. Tweets from news reporters at the Capitol reported that the speaker was summoning recalcitrant representatives to his office and presumably using every means at his disposal to switch their votes from no to yes, but on Thursday he failed….

The Boehner bill is already a conservative bill that won'tpass the Senate. Making it more conservative only reduces its viability. House Republicans are doing their absolute best to demonstrate that they are incapable of supporting any kind of compromise deal acceptable to both parties. They are effectively declaring themselves incapable of governing….

If the House can't pass the speaker's own bill, with the entire nation (and the world) watching, with Wall Street on edge, and most amazingly of all, already having secured a deal that includes significant spending cuts without any revenue increases, House Republicans will be exposed as both irresponsible and incompetent.

But no pressure, Republicans! We’ve still got four whole days until you make America default!