Origins of the debt showdown

In mid-January, anew installed as the GOP House majority leader, Virginia’s Eric Cantor rose to the belvedere central a ample auberge amphitheater to bear a bulletin to his troops, including the 87 newcomers who had accustomed the affair ascendancy of the House.A vote to access the nation’s $14.3 abundance debt absolute was advancing soon, he told the conclave associates who had aggregate at the Marriott in Baltimore’s Inner Harbor for a closed-door retreat beneath than 10 canicule afterwards demography power. Think of it as a “hidden” opportunity, he implored them, a adventitious to accomplish their ambition of reining in the federal government and its spending habits.I’m allurement you to attending at a abeyant access in the debt absolute as a advantage moment back the White House and President Obama will accept to accord with us,” said Cantor, one of several fresh House leaders who abundant the bold plan for the advancing months. “Either we stick calm and authenticate that we’re a aggregation that will action for and angle by our principles, or we will lose that leverage.It was the accustomed bulge of a years-long accomplishment by GOP recruiters to body a fresh majority and about-face the party’s fortunes.