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Debt Ceiling Showdown, Understanding Debt and Deficit

By James H. Hyde: The anticipation is rising. The talking heads are jockeying for position in the gallery for the first big, bona fide test of bipartisanship between Barack Obama and the Republican House. As issue? Whether or not to raise the debt ceiling. In the Yea corner is Barack Obama, and in the Nay corner is the House GOP leadership. While a battle will surely ensue, it’s beginning to look more as if it will become a let’s make a deal contest as opposed to a front-on Sumo match as was first expected....

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