Democrats can neither control nor predict whether our GOP counterparts are really ready to play chicken with the U.S. economy. But we can assure the American people that our party takes the nation's faith and credit seriously.

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One of the great privileges of having grown up in a middle-class literary English household but having gone to school in the front lines in Southeast London was that I became half-street-urchin and half-good-boy at home. I knew that dichotomy was possible.