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when william f. buckley

The Debt Ceiling: Where Are the Grownups? (tags)

The fact that the ruling elites haven't stepped in and forced the President and Congress to raise the debt ceiling, the way they did in October 2008 to push through the TARP big-bank bailout, suggests either that the corporate ruling class likes the "shock treatment" agenda being pushed by the Tea Party -- force a default on U.S. debt so the President and Congress will have to eliminate the welfare state virtually overnight -- or that the Tea Party has become the ruling class's Frankenstein, a monster it can no longer control.

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