America is being held hostage by the oligarchy

Paul Krugman | America Held Hostage
 
Paul Krugman, The New York Times
EXCERPT: "This is a hostage situation. If the president and his allies operate on the principle that failure to raise the debt ceiling is an unthinkable outcome, to be avoided at all cost, then they have ceded all power to those willing to bring that outcome about. In effect, they will have ripped up the Constitution and given control over America's government to a party that only controls one house of Congress, but claims to be willing to bring down the economy unless it gets what it wants."
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