Republicans aren’t going to tell Americans the real cause of our $31.4tn debt

‘When Republicans are in power, they rack up giant deficits, mainly by cutting taxes on corporations and the wealthy. Then when Democrats take the reins, Republicans blame them for being spendthrifts.’ Photograph: Mandel Ngan/AFP/Getty Images

The dire warnings of fiscal hawks are once again darkening the skies of official Washington.

They’re demanding that the $31.4tn federal debt be reduced and government spending curtailed – thereby giving cover to Republican efforts to hold America hostage by refusing to raise the debt ceiling.