While it may not be a surprise that the Republicans are preparing to yield on their vow to oppose tax hikes, it should raise investor concerns the world over that an upcoming budget agreement will likely involve a Congressional surrender of its authority to set the federal debt ceiling. In exchange for this, it appears that the Republicans have simply done nothing to halt, or even curb, the dangerous federal spending trajectories or the current drift towards greater state control of the economy. President Obama has politically outmaneuvered the Republicans, even going as far as evoking the Newtown massacre as...
It's not the senate's job to produce a budget. It's the fact that Harry Reid refuses to allow the 37 or so budgets passed by the house to even come to a vote. He has been derelict in his duties as senate leader by refusing to do so.
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