Quote of the Day

"Michelle Bachmann, even when given a second chance, seemed genuinely to believe that the federal debt ceiling applied to future spending, not bills and tax cuts the Congress had already voted to enact. Not sure which is worse: that she knows better and decided this was an applause line to push, or she really doesn't know the first thing about the Congressional budgeting process. I bet most Americans also think that holding down the debt ceiling is a forward-looking budgetary step -- ie, that it's like resolving to spend less next month. But they're still wrong. The real comparison is resolving not to pay a credit card bill when it shows up. For a national candidate not to understand this??? Seriously, this is like discovering that your doctor thinks that your trachea is attached to your spleen." - James Fallows