Denis Campbell: Many economists predict a failure to act before Asia markets open Sunday or Monday night could see an immediate stock market loss of up to 5% and wipe out 10% of US GDP by Tuesday night. It’s that serious.
Robert Reich: Barack Obama is one of the most eloquent and intelligent people ever to grace the White House, which makes his failure to tell the story of our era all the more disappointing and puzzling.
Joseph Palermo: The debt ceiling gambit that Republicans in the House of Representatives have used to tie the U.S. government in knots in recent months is simply the California GOP’s tactic writ large.
Brent Budowsky: When the full truth is told about the secret deals that will define the fiscal future of America and the fate of programs at the heart of the Democratic Party heritage, it will be clear that Senator Harry Reid (D-Nev.) is the most important leader in Washington carrying the torch, against great odds, for what true Democrats stand for.
Brent Budowsky: The extreme hard-line attitude of many Republicans has significantly raised the prospects for a national default and rating agency downgrades that would sweep across the nation and many states, causing an economic cataclysm and public outrage unlike anything ever seen in the history of the republic.
Robert Reich: The GOP’s experienced actors – House Speaker John Boehner and Senate Minority Leader Mitch McConnell – have been upstaged by juveniles like Eric Cantor and Michele Bachmann, who don’t know the difference between playacting and governing. Washington has gone from theater to reality TV – a game of hi-jinks chicken that could end in a crash.