Back from the debt-ceiling brink

The House GOP seems to have extricated itself from a bind that could have damaged both the American economy and its own political future. Frustrated by Democrats' opposition, many House Republicans wanted to use the debt ceiling as leverage to force the Senate and the White House to accept deeper spending cuts. But after three days at an annual retreat, party leaders said Friday that they're willing to move the fight over spending to more appropriate times — including the looming debate over funding the federal government after March 27, when the money for most operations runs out.

January 22, 2013