debt ceiling

Debt brinkmanship has no place in democratic politics. This simple and reasonable legislation would end it.

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Why the Tea Party Is Folding on the Debt Limit

They were never irrational, just delusional

The shutdown didn't break the Tea Party's fever. But it did stamp out some of its most dangerous delusions. 

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As Congress gears up for another showdown over raising the debt ceiling, we are left, as a society, with two choices. The first is to lift the debt ceiling and prevent a worldwide economic catastrophe. The second is to not lift the debt ceiling and leave the world at the mercy of fascist weirdos, with only Kevin Costner to  protect us.

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Grover Norquist, founder and president of Americans for Tax Reform, came to the offices of The New Republic Thursday for a wide-ranging discussion on American politics and the future of the Republican Party. Unsurprisingly, the government shutdown and debt ceiling negotiations came up more than once.

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How Obama, Reid, and Pelosi Stopped Republican Extortion

Three reasons the Democrats won

It’s over. The Senate voted yes. The House voted yes. President Obama signed the bill and, on Thursday, the federal government is open for business again.

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If a body other than the Congress of the United States were actively contemplating a step that would, by the accounts of virtually all economists, tank the U.S. economy, cause interest rates to shoot up, and trigger a financial crisis, we would talk about that body as a threat to national security. At a minimum, we would talk about the step it is contemplating in national security terms. A government shutdown, after all, can invite a national security event, but by itself it isn’t one. It’s a game of Russian Roulette.

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Americans who want jobs or mortgages will suffer because John Boehner didn't have the guts to stiff the Tea Party

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We’re in Week Three of the government shutdown, speeding toward the October 17 debt ceiling deadline. The stalemate continues, and the Smithsonian's still closed. We know the two parties are talking, but what are they actually saying? We're not talking tea leaves here; rather, definitions. Here's a handy glossary for the procedural and partisan parlance of the "shutdown showdown" and "debt-ceiling debacle."

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Democrats and Republicans in the Senate have nearly completed a deal that would reopen the government and increase the Treasury Department's debt ceiling. President Obama has signalled his support, as have Democratic leaders in the House. But House Republicans aren't ready to give up on their dream of threatening shutdown and default to extract concessions. They're making yet another counter-offer, with some of the same demands Democrats rejected perviously—even though, within two days, Treasury is likely to exhaust the "extraordinary measures" it's been using to pay its bills.

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Mitch McConnell, leader of the Senate Republicans, approached Democrats with a new offer over the weekend: He and his colleagues would vote to open the government and increase its borrowing authority, as long as Democrats would agree to accept the depleted spending levels of budget sequestration. Harry Reid, leader of the Senate Democrats, said no thanks. It was the third time in less than a week Democrats had spurned a Republican overture.

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