By Jonathan Chait
You know how the supercommittee failed because the two parties couldn’t compromise on a plan to reduce the deficit? That’s the story all the media is reporting. It’s all wrong. The reason for the deadlock wasn’t that the two parties couldn’t compromise, it’s that they don’t agree on what problem they’re supposed to solve. And once you understand this, then you can see that the supercommittee didn’t actually fail. [more]
2 days ago
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