First published: The Atlantic Council, 02/08/2011
The agreement between the White House and both Houses of Congress to lift the ceiling on Federal government debt averted the embarrassment of a possible default and or a government shutdown. But political leaders on both sides capitulated to extortion, as radical members of the House of Representatives demanded and won spending cuts as the price for allowing the government to function. In a podcast, produced by Sarwar Kashmeri of the Atlantic Council, I debated some of the issues arising with Marc Chandler of Brown Brothers Harriman. You can find it at…more
