That's a terrific link.
Wikipedia just nails the history.
No obvious political bias to my eye.
I remember now that I was very upset when Republicans agreed to extend the new debt ceiling past the 2012 election.
I felt Conservatives held at least 50% of the political high ground on the debt issue.
I saw one thing that gave me a little comfort.
I thought the Defense Budget was going to be cut $55 billion a year for 9 years if the “Sequester” became law.
No - just a one year absolute cut.
Then, a slow increase each year, but less than the expected rate of inflation.