Kevin Drum:

Watching the world slide slowly back into recession without a fight, even though we know perfectly well how to prevent it, is just depressing beyond words. Our descendants will view the grasping politicians and cowardly bankers responsible for this about as uncomprehendingly as we now view the world leaders who cavalierly allowed World War I to unfold even though they could have stopped it at any time.

Politicians are able to fool the public because people don’t take the time to educate themselves on the issues. For example, raising the debt ceiling does not mean Obama is going to suddenly be able to create all this new spending. It only means the US will be able to pay for spending that was already approved by Congress. And let’s not forget basic fifth grade civics, the Congress makes the law and the President executes the laws. So any new spending Obama wanted would have to be passed by Congress. That’s why Boehner’s line last night that Obama wanted a blank check sounds good and people believe it, but it’s a flat-out lie.

Even former George W. Bush speechwriter, David Frum, thinks the Republicans are crazy:

But in the argy-bargy, keep this in mind: the debt problem has become a debt crisis for one reason only: because Republicans put the threat of debt default on the table.

That never needed to happen.

House Republicans could have kept the debt ceiling issue wholly separate from the budget cut issue.

(Via John Gruber)