Making an already head-splittingly difficult deal on the fiscal cliff even harder to resolve is a set of three rules by which the Republicans who run the House play.
These are not official regulations; they're more shibboleths that House GOP leaders have adopted in recent years. And those rules are leaving House Speaker John Boehner, R-Ohio, little room to maneuver as lawmakers try to avoid a set of tax increases and spending cuts set to take effect at the end of the year.
August 2011: President Obama (right) and House Speaker John Boehner at the White House as they and other lawmakers worked to head off a government shutdown that loomed.
Credit Jewel Samad / AFP/Getty Images
Some details are emerging from Washington Post journalist Bob Woodward's new book about the 2011 battle between President Obama and congressional Republicans over the budget, taxes and deficit reduction.
On Jan. 8, 1835, all the big political names in Washington gathered to celebrate what President Andrew Jackson had just accomplished. A senator rose to make the big announcement: "Gentlemen ... the national debt ... is PAID."
That was the one time in U.S. history when the country was debt free. It lasted exactly one year.
On today's Planet Money: The legend of the national debt. Where the debt came from, what happened the one time we paid it all off, and why Congress created the debt ceiling in the first place.
It was just a year ago that the House rejected a deal with President Obama and threatened to allow the U.S. to default on debt obligations coming due. The Tea Party refusal to raise the debt ceiling led to a downgrade in U.S. credit and a selloff in the markets. NPR's David Welna reports on what's changed since then and what hasn't.
As the federal debt balloons, reducing it would seem more and more pressing. Yet policymakers remain far apart. Debt, deficit and budget rhetoric is often accompanied by numbers cherry-picked to support a particular political view.
But a new book by Wall Street Journal economics writer David Wessel lays out the numbers that both political parties face.