Yesterday in a speech to the Business Roundtable, President Obama clearly labeled the teaparty Republicans as extortionists. And in doing so, he challenged their grasp of history and the foolishness of their insistence on holding the debt ceiling hostage to their ideology.
Despite pleas from the Chamber of Commerce and Republicans who are not 100% bat-guano crazy (not quite “reasonable” or “sensible” but somewhat left of “stark raving mad” on the crazy continuum), the House gave in to the demands of the Kamikaze Wing of the Republican Party, aka Ted Cruz.