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If the debt-limit debate had anything to do with reality, every story about it would include a few basic facts. Starting with: President Obama inherited a $1.2 trillion budget deficit. And: Republican leaders supported the tax cuts and wars that (along with the recession, another pre-Obama phenomenon) created that deficit. Also: Republicans engineered this crisis by attaching unprecedented ideological demands to a routine measure allowing the U.S. to pay its bills. Finally, Obama and the Democrats keep meeting those demands—for spending cuts, then for more spending cuts, and even for nothing but spending cuts—but Republicans keep holding out for more.
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Still True Today: Frequently Forgotten Facts of the Debt Debate | Swampland
This is like negotiating the final price of a house. A seller advertises the selling price at 500,000 dollars, but the buyer wants it for 100 bucks.
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