Originally published on Mon November 21, 2011 5:30 pm
For the not-so-super debt reduction supercommittee, failure is clearly an option.
As the blame-gaming bipartisan congressional committee stumbled toward collapse Monday, washing out on even the most basic show of common purpose, the "what happens next" scenarios began to take shape.
With Thanksgiving hard upon us, now is a good time to think about our past. History writers can tell the best stories from centuries of human achievement and folly, yet too often they produce recitations of one damned thing after another. A few, though, combine a respect for accuracy with a deep understanding of the longings, fears and triumphs of the people of our past. Such books make magic.
Originally published on Mon November 21, 2011 2:03 pm
President Obama has kept his distance from the supercommittee. Unlike the budget battles earlier this year, there were no bargaining sessions at the White House. No presidential motorcades to Capitol Hill.
Rep. Kevin McCarthy, the No. 3 Republican in the U.S. House of Representatives, has a very clear record on the Affordable Care Act. He has repeatedly called for its defeat and was one of the co-sponsors of the January repeal measure that easily passed the House but died in the Senate.
When he walked down a line of seated Occupy protesters Friday at the University of California Davis and shot pepper spray directly at them, campus police Lt. John Pike likely never thought that video of the incident would go viral on the Web, that there would be outrage not only at the school but around the nation, or that "casually pepper spraying cop" would quickly become one of the year's top memes.
The United States government takeover of American International Group saved the company from going under during the financial crisis of 2008. As The Wall Street Journal reported at the time, the government drove a hard bargain — tens of billions would get it an almost 80 percent stake of the company — but the government argued if AIG went down, so would the rest of the economy and AIG argued if the company wasn't pumped with money, it would collapse. The U.S.
Originally published on Mon November 21, 2011 1:06 pm
With the members of the congressional deficit-cutting supercommittee essentially announcing that they couldn't get to "yes," the nation is only seeing the latest turn of the screw in the partisan paralysis gripping policymakers in Washington. We all know it is far from the last.
Coming as it does now less than a year before the 2012 general election, the panel's failure to achieve at least $1.2 trillion in deficit reduction means each major political will now be focused on trying to persuade voters that the other party is more responsible for the impasse.