Don’t count on this one to get anywhere. The House of Representatives passed “cut, cap, and balance” on Tuesday, a conservative proposal to fix the debt crisis. The bill, which was strongly backed by the Tea Party and passed 234-190, allows for a $2.4 trillion increase in the nation’s borrowing, but conditions it on severe spending cuts and a constitutional amendment requiring a balanced budget. It has virtually no chance of passing the Democratic-controlled Senate, and President Obama has threatened to veto it.
