Obamacare may limit individual liberty, or it could catalyze a dynamic labor market unencumbered by employee dependence on employer-based insurance. We'll see reality play out in the years to come. That debate is not, however, germane to today's stalemate.
Though Congressman Peter King is from New York, he should not be mistaken for an old-fashioned moderate Republican. He is a full-blooded Reaganite, but he is realistic enough to recognize that his party is engaged in a suicide mission.
Everything. What most people do not realize, including GOP Congressmen, is that the U.S. national debt is the world's money, and that money is the lubricant not just for our economy, but for the entire world.
In the end Republicans folded in the filibuster debate because they preferred preserving the filibuster for another day than permanently losing an obstructionist tool they could continue to abuse. The same strategy will work for the debt-ceiling.
Broadly speaking, policymakers should acknowledge that our growing debt is a serious threat to the economic well-being and security of our country. It is urgent that we put in place a plan to stabilize the debt as a share of the economy and put it on a downward path.
While it may not add up to a trillion, everyone involved with the federal budget recognizes that an "all options on the table" approach is necessary to solve this problem. Currency modernization and the dollar coin need to be part of the discussion.
The U.S. government has never defaulted on its legal obligations. We should make sure that this never happens. That means being careful about the national debt, but it also means not being stupid about a debt ceiling that can simply be raised or removed in order to avoid certain default.
Let's stop pretending this is a debate about "fiscal responsibility" or "facing reality": It's about keeping taxes as low as possible for the wealthy and corporations while shifting as much pain as possible onto lower-and middle-income Americans.