Mike Lofgren, David Stockman. A few true conservatives, solid Republicans, have become disgusted with their party, and have owned up to the mistakes made by that party and its adherents. Stockman I have talked of before. Lofgren, the long-serving Republican analyst on the Senate Budget Committee, says that most of the national debt has been piled up by Republicans, and now they have the monstrously selfish gall to not want to own up to it, let alone pay for it, and are willing to bring the country down in the process. He saw the train wreck coming from the Republican intransigence about getting tax breaks for the wealthy and corporations. Because when the Republicans made it a necessary condition prior to any agreement on raising the debt ceiling, when they knew very well that to do so would mean a detailed law could not be crafted in time for the Aug 2nd deadline, Lofgren, who just retired, saw it as a looming disaster and wrote op-ed pieces about it.
Only the fact that the markets have now begun to accept and factor some of the marked dysfunction in the US political-fiscal process, have things been relatively calm from what they could be.
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