More proof that the Republican Party should not be allowed anywhere near the country's finances. From the Guardian:
The US debt crisis has escalated after Republicans were forced to rewrite their proposal to lift the debt ceiling, because they miscalculated how much the original plan would cut spending.
In an embarrassing development for John Boehner, the Republican Congress speaker, the Congressional Budget Office (CBO) ruled on Tuesday night that his bill would have only cut spending by $850bn (£517bn)over the next decade, not the $1.2tn he had aimed for. Republicans are now racing to rewrite the legislation, and have pushed back a congressional vote on the plan from Wednesday to Thursday at the earliest.
It baffles me that anyone could still consider the GOP to be the party of fiscal responsibility. If they cannot be bothered to come to the table with correct figures, how can they be trusted to engage seriously on a topic as important as the debt ceiling? The truth is, the Republicans have never been interested in facts. They are consumed by a fanatical adherence to ideology and a pathological hatred of the President. The Republicans don't care whether the country slides back into recession as long as 1. The rich get to keep their money, 2. Obama's re election chances are hurt.
Reality has never been high on the Republican priority list - it is a party, as Bill Maher once put, beholden to 'a bunch of religious lunatics, flat-earthers, and Civil War re-enactors'. And amazingly, they wield the power to destroy half the world's economy.