Headlines in the NY Times this morning: "Party Gridlock in Washington Feeds New Fear of a Debt Crisis." Are they kidding? "Party Gridlock" may be the only hope to stop a near certain US federal bankruptcy. The Obama budget virtually guarantees a future US federal bankruptcy unless stopped by -- you guessed it - Party Gridlock.
It isn't the lack of compromise between the political parties that is leading the US over the cliff. That is the Democratic Party line and the line emanating from the White House. Now, the NY Times, long the mouthpiece of the Democratic Party, has pushed this nonsense to its front page.
What is leading to the "fear of a debt crisis" is the "fact" of a debt crisis. In case the NY Times hadn't noticed, and I am almost certain that they haven't noticed, the US national debt is spiraling out of control. Whatever the mistakes may have been made in prior administrations, the Obama administration takes first prize in deficit spending and pushing the US over the debt cliff.
Trying to pretend, as the Obama White House and its mouthpiece the NY Times are doing, that lack of bi-partisanship is the problem is ridiculous. The budget proposed by the President, if adopted, puts the country on a certain path to bankruptcy. Only "Party Gridlock" can stop this headlong collapse of the US into a banana republic. Three cheers for Party Gridlock. Boo and hiss to the NY times.