At the end of 1995 and stretching into January 1996, the federal government "shut down" because of an impasse between President Bill Clinton and House Republicans led by then-House Speaker Newt Gingrich.
Alas, the “draconian” spending cuts invariably turn out to be not-so-draconian after all. In fact, it’s often the case that reporters are talking about smaller spending increases rather than real spending cuts.
For any number of reasons, not the least of which is the inability for news outlets to focus on more than one simultaneous crisis, as public attention turned to the Fiscal Cliff telenovela, many are missing another serious economic threat: the small business spending cliff.
During the "fiscal cliff" battle, I asked several Republican lawmakers why they didn't push harder for spending cuts in exchange for their historic concession to vote for higher taxes.
At the Potsdam conference with Harry Truman and Josef Stalin, Winston Churchill learned that the voters of the nation he had led for five years through World War II had just voted to throw him out of office.
President Obama won the first round of his second term, but thanks to Mitch McConnell the beating wasn’t as severe as it could have been.
The idea behind a grand bargain to get the federal budget deficit under control is a simple one. Republicans agree to tax increases and Democrats agree to spending cuts.
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