Commentary: Negotiating down to the wire: The odd psychology of brinkmanship Palm Beach Post
The debt-ceiling sweepstakes are coming down the home stretch, and the stakes couldn't be higher. The full faith and credit of the United States is hanging in the balance.
This potential catastrophe has been looming for years, with no signs of urgency from lawmakers. Now, all of Washington is in a "Chicken Little" panic.
The Simpson-Bowles Commission on Fiscal Responsibility and Reform issued its report almost eight months ago. Its eminently reasonable, bipartisan report recommended spending cuts beginning in 2012, as well as tax reform and other ways to reduce the deficit by $4 trillion over the next decade.
The recommendations were greeted with a huge yawn by some lawmakers, and outrage by others. Partisan zealots on both sides attacked the report as unreasonable and unworkable; this was a reliable sign that the recommendations were sound and realistic. Due to irresponsible partisan gridlock, no action was taken on the commission's sensible plan for fiscal sanity.
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