07.16.12 7:00 PM ET
Irresponsibility is Contagious
Now it's Democrats threatening to push the country over the fiscal cliff:
Democrats are making increasingly explicit threats about their willingness to let nearly $600 billion worth of tax hikes and spending cuts take effect in January unless Republicans drop their opposition to higher taxes for the nation’s wealthiest households.
Emboldened by signs that GOP resistance to new taxes may be weakening, senior Democrats say they are prepared to weather a fiscal event that could plunge the nation back into recession if the new year arrives without an acceptable compromise.
The crash of 2008 was enabled by the most reckless business leadership since the 1920s. It is being aggravated and extended by the most feckless political leadership since the mid-1970s.