President Obama has made it clear that he’s willing to sign on to a deficit-reduction deal that includes extraordinary concessions. Yet Republicans are saying no. Indeed, they’re threatening to force a U.S. default, and create an economic crisis, unless they get a completely one-sided deal. And this was entirely predictable.
Voodoo economics has taken over the GOP. Those within the GOP who had misgivings about the embrace of tax-cut fanaticism might have made a stronger stand if there had been any indication that such fanaticism came with a price. But there has been no pressure on the GOP to show any kind of responsibility, or even rationality — and sure enough, it has gone off the deep end.
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