If the federal government fails to pay its bills and the interest on its borrowing by the middle of the month, it is the overwhelming verdict of the nation’s smartest economists that financial mayhem will ensue.
The Senate filibuster deal was a good start. It showed both sides can work together if they are threatened with the prospect of a chamber frozen in impotence. But compromise remains a dirty word among many conservatives and libertarians in Congress who would rather accomplish nothing than find a way to achieve something. They are not only wasting their own time and our money, they are standing in the way of conservative or libertarian achievements.
The trifecta of scandals — Benghazi, the IRS and snooping on journalists — that has broken upon the heads of the Obama administration is as bad as Watergate. No it isn’t, says Bob Woodward, whose reputation was made by doggedly pursuing the source of a burglary of the Democratic National Committee offices in the Watergate Hotel. No it isn’t, says Carl Bernstein, who shares the bragging rights for toppling President Richard Nixon. Oh yes it is, says Peggy Noonan, the Republicans’ mother superior, writing, “We are in the midst of the worst Washington scandal since Watergate.”