Does any serious person believe the United States should cease or delay paying its debts? Social Security? Military retirement? Only in Washington, D.C., where extremists in both parties torpedoed a bipartisan agreement between President Barack Obama and Republican House Speaker John Boehner to cut the deficit over 10 years by $4 trillion by slashing government spending, reforming entitlements and closing tax loopholes while simultaneously reducing federal tax rates. Sensible Republican House leaders who understand the need for compromise, including my former colleague, Mike Simpson, were unable to sell this agreement to their tea party base because it closed some of the most egregious tax loopholes like those which enable hedge fund billionaires and General Electric to pay little or no taxes on their annual earnings/Walt Minnick, Idaho Statesman guest column. More here.
Question: Who will blink?