As President Obama discusses the fact that budget cuts can't restore economic growth and House Speaker Boehner says the Budget Plan is 'bad for job creation', perhaps the two parties have something they can actually agree on? Sarcasm aside, as this incredible chart, via JP Morgan's Michael Cembalest, shows, Congressional polarization is at an all-time high. In some strange Keynesian way, we are to believe that a 0.2% increase in the $3.8tn fiscal 2013 budget is belt-tightening and of course we await the M.A.D. argument for extensions here and there that has been so successful back in the heart of democratic Greece.
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Source: JP Morgan