Debt Ceiling Talks Collapse (LATEST UPDATES)

The impasse over the federal debt ceiling underscore­s the oft-remark­ed rule that in a game of brinkmansh­ip, the side with fewer scruples and greater intransige­nce has the upper hand. What gives dictatoria­l power to a small bloc of Republican die-hards opposed to any tax increases is their apparent willingnes­s, even eagerness, to test the consequenc­e of a U.S. default on its debts.

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