at this point, i think it's pretty clear who is responsible for this debt ceiling canard and the manufactured "crisis" surrounding it---if it's not, then read any of the articles i posted earlier. krugman's is maybe the funniest--the financial times the best overview--the economist merely points out the obvious irresponsibility and duplicity of the republicans in it. there's a lot of blame to go around to the extent that people swallowed neo-liberal idiocy---but look at krugman's piece, which provides a nice little capsule history of the instrumental use the right made of supply-side/neo-liberalism---the right here includes moderate republicans like clinton of course---and points out that it has only become an absolute doctrine with the obama administration and the panic the right faced because it had to answer for its own record.
it's also clear that the republicans, as they have lurched further to the right in an attempt to differentiate themselves from themselves, have found their new and improved version of the same old brand held hostage by the ideological fringe, including norquist---and that these people are willing to risk an entirely unnecessary default in order to gain some imaginary tactical advantage rooted in upholding some worthless ideological purity for the hard right set.
these are different people than the tea partiers---more the power people who've lurked in the background and who are, bit by bit, **finally** getting outed.
---------- Post added at 08:33 PM ---------- Previous post was at 08:26 PM ----------
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ralphie---this quick overview may help get oriented:
US debt ceiling: Why is America facing a borrowing crisis? | Business | guardian.co.uk