Expecting The Impossible And Denying The Inevitable

July 1, 2011

At lunch the other day, a friend who recently returned to New York after living abroad for many years asked me what will happen if the federal debt ceiling is not raised before the official drop-dead date of Aug. 2. I said pretty much what President Obama said at Wednesday’s news conference, when he declared that the fallout from missing the deadline, and any resulting default on Treasury debt, would …

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Obama’s White House Party Is Winding Down

July 6, 2010

You know a party is winding down when the revelers start heading for the exits. Though a few true friends will stick around to help the host clean up the mess, most partiers prefer to be out the door before the music stops. This month’s planned departure of Peter Orszag, the White House budget director, is a sure sign that the good times are about to stop rolling for the …

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