To the Fiscal Brink: Will the GOP and the 1% now destroy the US economy?

by Nomad

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rinkmanship is defined by Wikipedia as ”the practice of pushing dangerous events to the verge of disaster in order to achieve the most advantageous outcome.” 

When it comes to the US economy- which has been hobbling along like a forsaken three-legged dog- both parties have been testing the wills of their opposition and how it will end is, at the moment, anybody’s guess. What started out as intransigence on the part of the Republicans soon became open obstruction not only to the president’s proposals but to any good-faith negotiation at all. But sometime last year, things took a strange turn. 
To understand how this escalation happened, we need to return to Wikipedia:

In order for brinkmanship to be effective, the threats used are continuously escalated. However, a threat is not worth anything unless it is credible; at some point, the aggressive party may have to back up its claim to prove its commitment to action.

For the last year- but mostly all through Obama’s first term- the Republican refused to budge when it came to the budget. Austerity ( at least, selectively defined), they claimed, was the only way out of this national debt problem. With the impending automatic and across the board budget cuts called sequestration, that threat is very creditable indeed. 

How the nation could have found itself in such a mess is perhaps an example of the breakdown in the political system. With the defeat of their candidate in the election, the Republicans now find themselves in a bind, an inexcusable situation, largely of their own making.