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Topic: Budget Showdown (page 14)

Bernard Madoff, chairman of Madoff Investment Securities, returns to his Manhattan apartment after making a court appearance Wednesday, Dec. 17, 2008 in New York. The judge in Madoff's fraud case has set new conditions for his bail, including a curfew and ankle-monitoring bracelet for the disgraced investor. (AP Photo/Jason DeCrow) (Jason Decrow)

Andrew Leonard
President Barack Obama returns to the White House in Washington, Thursday, Feb. 10, 2011, after traveling to Marquette, Mich.. (AP Photo/Charles Dharapak) (AP)

Andrew Leonard
(Andy Manis)

Andrew Leonard
Rep. Paul Ryan, R-Wis.

GOP: No government shutdown if you play nice

Andrew Leonard
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Copies of President Obama's 2012 budget are delivered to the Senate Budget Committee, Monday, Feb. 14, 2011, on Capitol Hill in Washington. (AP Photo/J. Scott Applewhite) (AP)

Deficit swells to biggest proportion since 1945

Jeannine Aversa, Christopher S. Rugaber
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Andrew Leonard
President Barack Obama speaks at Parkville Middle School and Center of Technology, in Parkville, Md., Monday, Feb., 14, 2011. (AP Photo/Carolyn Kaster) (Carolyn Kaster)

Andrew Leonard
In this photo taken Feb. 10, 2011, stacks of the appendix of the 2012 budget wait to be bound at the U.S. Government Printing Office at Washington. President Barack Obama Obama will send his 2012 budget proposal to Congress on Monday, Feb. 14. According to an Office of Management and Budget summary obtained by The Associated Press, the administration will propose more than $1 trillion in deficit reduction over the next decade with two-thirds of that amount coming from spending cuts. (AP Photo/Jacquelyn Martin) (AP)

Andrew Leonard
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In this photo taken Feb. 10, 2011, the 2012 budget is on display at the U.S. Government Printing Office at Washington. President Barack Obama Obama will send his 2012 budget proposal to Congress on Monday, Feb. 14. According to an Office of Management and Budget summary obtained by The Associated Press, the administration will propose more than $1 trillion in deficit reduction over the next decade with two-thirds of that amount coming from spending cuts. (AP Photo/Jacquelyn Martin) (AP)

Martin Crutsinger
People wave signs at a Tea Party protest on the grounds of the Colorado state Capitol in Denver on April 15, 2009.

Andrew Leonard
President Barack Obama speaks at the U.S. Chamber of Commerce in Washington, Monday, Feb. 7, 2011. (AP Photo/Charles Dharapak) (AP)

AP/Salon
Senator Jim DeMint R-S.C., a leading supporter of a balanced budget amendment

The danger of a balanced budget amendment

Andrew Leonard
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FILE - In this Dec. 16, 2010, file photo Treasury Secretary Timothy Geithner testifies on Capitol Hill in Washington before the Congressional Oversight Panel hearing on TARP. The United States just passed a dubious milestone: Government debt surged to an all-time high, more than $14 trillion. Geithner says failure to increase borrowing authority would be "a catastrophe," perhaps rivaling the financial meltdown of 2008-2009. (AP Photo/Alex Brandon, File) (Alex Brandon)

Andrew Leonard
(AP Photo/J. Scott Applewhite) (AP)

Andrew Taylor
FILE - In this Dec. 6, 2010, file photo President Barack Obama, visiting Forsyth Technical Community College in Winston-Salem, N.C., speaks about the key to boosting American competitiveness, that it rests in the nation's willingness to invest in a more educated workforce, a deeper commitment to research and technology, and improvements in infrastructure, from roads and airports to high-speed internet. Under pressure to boost the economy the same message will likely be at the center of his State of the Union address Tuesday, Jan. 25. (AP Photo/Chuck Burton, File) (AP)

Ben Feller
FILE - In this Dec. 16, 2010, file photo Treasury Secretary Timothy Geithner testifies on Capitol Hill in Washington before the Congressional Oversight Panel hearing on TARP. The United States just passed a dubious milestone: Government debt surged to an all-time high, more than $14 trillion. Geithner says failure to increase borrowing authority would be "a catastrophe," perhaps rivaling the financial meltdown of 2008-2009. (AP Photo/Alex Brandon, File) (AP)

Today in dour economic news: U.S. debt skyrockets

Adam Clark Estes
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Andrew Leonard
Former Minnesota Governor Tim Pawlenty

Justin Elliott
El nuevo presidente de la C·mara de Representantes de Estados Unidos, el republicano John Boehner, anuncia el jueves 6 de enero del 2011 en rueda de prensa en el Capitolio algunas medidas de sus correligionarios sobre el gobierno del presidente Barack Obama. (Foto AP/Alex Brandon) (Alex Brandon)

Will GOP bust budget with security measures?

Alex Pareene

Andrew Leonard
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Andrew Leonard
Senate Majority Leader Harry Reid of Nev. leaves the Democratic caucus luncheon to speak to reporters on Capitol Hill in Washington, Thursday, Jan. 6, 2011. (AP Photo/Charles Dharapak) (AP)

Ricardo Alonso-zaldivar
(AP)

Andrew Leonard
FILE - In this Nov. 23, 2010 file photo, Treasury Secretary Timothy Geithner speaks at the Treasury Department in Washington. Newly empowered Republicans suggest the nation's small businesses will be clobbered if tax cuts for those in the highest income brackets are allowed to expire on Dec. 31. President Barack Obama and his Democratic allies argue the impact would be slight. Both can't be right. The truth lies somewhere in between. (AP Photo/Susan Walsh, File) (AP)

Martin Crutsinger
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