Commentary
The same old game is starting all over again. The big spenders in Congress and the administrative state are demanding an increase in the debt limit. Republicans aren’t happy about it. They are demanding some fiscal responsibility. The negotiations begin. But the cards are stacked, and why? Because the bad guys in this drama always have a central threat that the good guys do not: the prospect of default.
Sure enough, and right on cue, the Congressional Budget Office is sounding the alarm that the United States will default on its debt as early as July and as late as September. This is supposed to be the great warning to Republicans to shape up and go along. And they probably will, sad to say….