Debt Ceiling Crisis

Although the debt ceiling imbroglio is finally behind us, D.C. has set the economy up for a painful few years, and without a major change of course, we can expect to see higher unemployment and slower growth in the near future.

WASHINGTON -- The proposed so-called "super Congress," created by congressional leaders in the debt deal and required to find $1.5 trillion in debt re...

Congratulations to the Tea Party for a great victory. Congratulations to President Obama and Democrats for another brilliantly executed surrender. Condolences to the jobless whose plight will become even worse after this deal.

So we won't default -- unless the extremist Tea Party gets its way. But we don't have a long-range fiscal plan, either, whatever the press releases say. Since the plan on the table is horrendous, that's a good thing.

Future debt ceiling crises can be averted by enforcing the Fourteenth Amendment, which mandates that the government pay its debts already incurred, including pensions. That means Social Security.

A little cynicism can be a good thing, if it makes people angry enough to do something about it. But too much cynicism leads to despair. The right balance of the two should lead to a mobilized and active citizenry.

House Speaker John Boehner (R-Ohio) tried to make a bipartisan budget deal with President Obama. House Majority Leader Eric Cantor (R-Va.) stabbed Boe...