Cantor pulls out of debt-limit talks

This is not good:

House Majority Leader Eric Cantor on Thursday pulled out of White House budget talks led by Vice President Joe Biden, saying the two sides had reached an impasse over tax increases.

Republicans are running out of time to screw around on this. If a deal cannot be reached soon, the United States will default on its obligations, and global economic catastrophe would likely follow. Republicans know this, but are counting on Democrats being responsible enough to avoid it by giving into policy demands Republicans can’t win any other way. It is a despicable, irresponsible, immoral hostage strategy. As congressional candidate Andy Schmookler put it, the Republican position is “Meet our demands or we’ll hurt America.”

America should be outraged.