Jesse H. Rhodes from the University of Massachusetts, Amherst, explains how the modern evolution of the two-party system ensures the nation will lurch toward the next crisis after the debt ceiling and government shutdown crises end.
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In this commentary, Professor Neil H. Buchanan from George Washington University says political brinkmanship is much less important than resolving the debt ceiling question permanently—a lesson that may be lost on the Obama administration and others in Washington.
In this commentary, Tad DeHaven from the Cato Institute says that budgetary impasse may be obscuring the fact that the federal government’s long-term financial situation remains bleak.
As the Treasury Department rattled markets on Thursday with a recession warning about a potential government default, one controversial option remains off the table: raising the debt ceiling by invoking the 14th Amendment.
Steven L. Schwarcz from Duke Law examines the consequences, both economic and legal, of a “technical” U.S. debt default, and why such a default today would be devastating.