The Debt Ceiling Impasse Explained in One Chart
July 13, 2011
Negotiations on the Debt Ceiling ground to a halt after weekend negotiations. President Obama laid out a $4 trillion package his own party is getting upset about, especially his latest proposal to raise Medicare eligibility to 67. Congressional Republicans are calling for a debt reduction plan half that size, but have a drawn a line in the sand: no tax increases, period.
Want to understand why we’re playing chicken with a national default? It’s complicated, but the guys at YouGov encapsulate it one chart. Brilliant. 
Want to read more? We invite you to Check out Nathan’s thoughts on the debt ceiling debate in his blog post from earlier today.