In response to:

For Once, Republicans Must Ignore All Calls and Jump off Cliff

*Cato* Wrote: Dec 14, 2012 2:27 PM
... ceiling is not raised legislatively, I say that is totally up to PrezBO to decide -- it's up to him to prioritize those activities that need to be funded with funds on hand. My recommendation (in priority order) would be to fund: interest payments on publicly-held debt, SS payments for those 62 and older (if you qualify at a younger age, TOO BAD), fund Mediscare bills, and fund the military minus 7%. So easy a caveman could do it.

I remember it well. It was Christmastime 1995, and much of the business establishment seemed furious with then-Speaker Newt Gingrich. As his political chair, I was hearing them out. Moreover, I was by then CEO of one of the nation's largest producers of corporate annual reports -- big-ticket items -- so I was listening intently.

But I had no influence. Bill Clinton was having nothing to do with Newt's threats to "shut down" the government, and that is exactly what Newt did -- twice -- both in December of 1995 and again in January of 1996. The result? Clinton...