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Ted Cruz can’t wait to run the Senate: The frightening reason why these midterms matter

Tea Party leader's spoiling for another debt ceiling fight. It's a sign of worse things to come if GOP wins control

GOP Rebel Justin Amash Just Beat a Guy Who Called Him "Al Qaeda's Best Friend"

The GOP's business establishment talked openly about making conservative hardliners pay after tea partiers helped push Washington toward a debt ceiling crisis last fall. But that wave of Chamber of Commerce-funded primary challengers to conservative incumbents never materialized. Show More Summary

Why’s this Tea Party PAC going after a top Tea Partier?

Kansas Republican Tim Huelskamp, a leader of the debt ceiling showdown, takes friendly fire.

Tax Pledge Cretin Will Join, Deeply Miscontrue Burning Man?

2 months agoPop Culture / Celebrity : Gawker

Churlish hamster Grover Norquist nearly brought the U.S. to the brink of default three years ago, pressuring legislators with his "Taxpayer Protection Pledge" into a debt ceiling battle that was both dangerous and inane. This year, Norquist plans to attend Burning Man, which he sees as a stateless capitalist Utopia. Read more...

James Kerian: Heidi Heitkamp’s Obamacare Extremism

It has been previously demonstrated on this blog that “extremist” is the new favorite word of the Democrat party in North Dakota. If you believe that the debt ceiling should not be raised until something (anything) is done to bring federal spending under control then the Democrat party will be happy to inform you that...

The Cost Of Downgrading The US: $1 Billion

Back in the summer of 2011 during the debt ceiling debacle, S&P did the unthinkable: it dared to speak the truth when it downgraded the US from its pristine AAA rating, setting off a stock market selloff and paradoxically sending bonds to record low yields. Show More Summary

Exclusive Working the Engels Sneak Peek: Ceil Is Forced to Go to Group Therapy

Considering her husband's death, his enormous debt and her (albeit brief) thoughts about taking her own life, therapy is probably not the worst idea for Ceil Engel on Working the Engels. In this exclusive sneak peek from Thursday's episode...Show More Summary

Perdue’s New Ad: “Conservative”

David Perdue has released yet another television ad attacking Jack Kingston, this time regarding the $13 trillion dollars debt ceiling increase since his time in office and what it means to be a conservative (because he knows??).  Take a look for yourself and take note of the extremely awkward silence after “That’s not what conservative […]

What Congress can learn from the general store owner who crafted U.S. borrowing limits

Photo by Karen Bleier/AFP/Getty Images Editor’s Note: Several months ago, the debt ceiling was big news. Would Congress vote to raise America’s borrowing limit or let America default on expenses already incurred? The House finally approved...Show More Summary

Will Congress "Pay the Bills" in 2015?

I wrote several posts about the "debt ceiling" debate in 2011 and again in 2013. Unfortunately "debt ceiling" sounds virtuous, but it isn't - it is actually a question of "paying the bills". And I've always argued that Congress would "pay the bills". Show More Summary

Special Economist Quote of the Day

If you’re wondering why a college economics professor would criticize someone for raising the debt ceiling, it’s because Brat is what we’d call a “special” economics professor. He’s the director of something called the “BB&T Moral Foundations of Capitalism” at Randolph-Macon College, funded by a rich nutter who doesn’t think...

ANALYST: Get Ready For Another Brutal Debt Ceiling Fight After Eric Cantor's Loss

House Majority Leader Eric Cantor's stunning loss Tuesday night to Tea Party-aligned challenger Dave Brat figures to embolden grassroots conservatives on multiple fronts. Deal-making is out. Immigration reform is dead, at least this year. Show More Summary

Open Thread

1) Just astounded. Every time the twitchy GOP caucus wanted to run off on some suicidal gambit like the debt ceiling default, it was Eric Cantor’s job to ask everyone to think about the party. If anything he acted like the Tea Party’s advocate against John Boehner whenever doing so did not spell imminent party [Read more...]

Obama Bets Again on Preemptive Compromise

One would think that after preemptive compromising failed to win over Congressional Republicans for health care reform, debt ceiling, grand bargain, and Bush tax cuts President Obama would give up on the strategy -- but he is going to give it one last go. He is going to make more undocumented immigrants suffer in an attempt to make the Republicans happy.

Are Precious Metals ETFs Dead In The Creek?

Flash back to the summer of 2011. The U.S. Congress struggled with a decision to raise the debt ceiling. The “PIGS” (i.e., Portugal, Italy, Greece, Spain) had dramatically overspent, endangering the existence of the euro-zone. Stocks cratered. The CBOE S&P 500 Volatility Index (VIX)...

Lawsuit Filed to Void Debt Ceiling: Is Jack Lew a "Default Denier"?

Over Memorial Day Weekend, America honors those who sacrificed to defend our nation and its honor. I paid tribute by revealing my lawsuit to void the dishonorable debt ceiling. Extremist partisans have repeatedly brought our nation to the brink of a dishonorable debt default. Show More Summary

How to Compare All the GOP and Democrat Budgets Floating Around

Ever since congressional Republicans forced Democrats' hand with their budget stipulations in last year's debt ceiling deal, a flurry of budgets...

"Whacko Bird" Ted Cruz and Sen. John McCain Make Nice

Remember when Senator John McCain referred to Texas Senator Ted Cruz as a “Whacko Bird” for pulling off his historic Senate debt ceiling filibuster? Well the two men seem to have reconciled, and are now poking fun at one another. Cruz told the Shark Tank that he recently had dinner with McCain, and that the two are on good terms. Show More Summary

As The Hedge Fund Slaughter Continues, Here Is Who Is Unwinding And What Stocks To Watch

Last week we reported that in the aftermath of the vicious high-flying momo, high-beta mauling, hedge funds had their worst week since 2001 (excluding such "end of the world" days as Lehman and the 2011 debt ceiling fiasco). Specifically,...Show More Summary

The Bad Weather Was The Worst Thing That Happened To The Economy Since The 2011 Debt Ceiling Fight

Some perspective here: This winter, the Bloomberg Economic Surprise Index (which captures the extent to which economic data is performing against economic expectations) has fallen to its lowest level since the 2011 debt ceiling fight. Thanks weather! Join the conversation about this story »

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