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Republicans abandon bedrock budget-cutting in debt ceiling vote
It was once the backbone of the House Republican majority — the hard-line stand that brought President Barack Obama to the negotiating table and yielded more than $2 trillion in deficit reduction. On Tuesday, it abruptly vanished, the victim of Republican disunity and a president determined not to bargain again. During the summer budget negotiations in 2011, House Speaker John Boehner had insisted that any increase in the nation’s borrowing limit be matched dollar for dollar with spending cuts. It became the “Boehner Rule,” a mantra of fiscal discipline. And while it didn’t always live up to its tit-for-tat formula…Read More