bond deficit

Grover Norquist is Winning Thanks to a Debt Ceiling Crisis Every Few Months

That's right. I don't know in what world some people are living in, but they should pay attention. Yes they should actually pay attention to what Grover Norquist is saying and how much these stupid debt ceiling crisis I predicted are playing into his hands. (h/t Addison)

Norquist: Republicans Should Hold Federal Government Hostage Every Month

And so this constant state of crisis and delayed/short term appropriations are going to be official soon.

House passes short-term debt limit deal

The Republican-led House today passed a bill to "suspend" the nation's debt limit until May, which if passed by the Senate and signed into law, would stave off for a few months the risk of letting the U.S. government default on its loans.
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House Democrats, meanwhile, grumbled that the short-term bill amounts to political gimmickry that keeps Washington in crisis mode.

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"The premise here is pretty simple," House Speaker John Boehner said on the House floor. "It says there should be no long-term increase in the debt limit until there's a long term plan to deal with the fiscal crisis that faces our country. Every hardworking taxpayer in America knows that they have to do a budget. Every hardworking taxpayer understands that you can't continue to spend money that you don't have."

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House Democrats also complained that the bill prolonged the debate over the debt limit rather than solving it.

"The good news is that our Republican colleagues finally realized that America should pay its bills and dropped their condition that that be matched by cuts," Rep. Chris Van Hollen, D-Md., said in a news conference. "The bad news is they've decided that America only needs to pay its bills for three more months."

Yes, even when that 3 month suspension becomes a raise only every few months more down the line it won't be close to normal standard procedure as some have tried to claim. This is true for a number of reasons; past raises of debt ceilings were never crisis showdowns and always were routine until Obama put them on the table as something to be negotiated. So given the completely different context comparing past debt ceiling raises to now I needn't go any further, but I will. What happened in 2011 was unprecedented and we are still dealing with the fallout right here and right now. It almost happened to former President Bill Clinton in the 90s but even Jonathan Chait admits Clinton was much more politically savvy in dealing with it than Obama so it was averted.

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