GOP bad faith on the debt ceiling

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http://www.guardian.co.uk/commentisfree/cifamerica/2011/jul/28/debt-ceiling-republicans

President Obama has the economic and moral high ground on the debt ceiling debate – but won't take it. With an eye next year's elections, the Republicans are putting Obama on the defensive by using the debate to paint Obama as a big spending Democrat.

Let's get the facts straight on a few things: the Republicans are largely responsible for the debt problem because they spent too much and taxed too little during the Bush years; and austerity economics doesn't bring economic growth.

Why don't we hear that from the White House?

John Maynard Keynes taught us that the future is uncertain and so governments need to prepare for economic downturns, because private markets won't. He said, "The boom, not the slump, is the right time for austerity." That means reducing spending and increasing taxes during growth spurts, and lowering taxes and increasing spending during recessions.