Facing the first default in the nation’s history, President Barack Obama punted on large-scale fiscal reform earlier this month by adopting an anemic package of discretionary spending cuts in exchange for raising the debt ceiling, which placed the nation’s credit rating in jeopardy. The only positive aspect of the deal is that it averts a […]
A Lose-Lose-Lose Situation: Washington Pursues Wrong Set of Policies in Debt Ceiling Debacle
Filed Under: National Politics, Politics Tagged With: Barack Obama, bush tax cuts, congressional budget office, Debt ceiling, debt deal, Deficit Reduction, economic collapse, John Boehner, Simpson-Bowles Commission