Debating Obama's Ransom
My evaluation of the debt ceiling deal is decidedly mixed, and many liberals are deeply unhappy. Dave Weigel wittily captures the spirit in his liberal denunciation mad lib: READ MORE >>
Did Obama Get Rolled?
The debt ceiling agreement is a horrible piece of legislation. It ratchets down already too-low domestic discretionary spending caps and imposes painful sacrifice on the middle class with little asked of the rich. Obviously, though, you can’t assess any deal without asking “compared to what?” Did President Obama get a worse deal than he had to, given the circumstances? And the answer to that question, in turn, depends on when you start the clock, and more importantly, when you stop it. Let me explain. READ MORE >>
Megan McArdle writes about Wall Street's confidence that a debt ceiling deal will be reached: READ MORE >>
Harry Reid and Mitch McConnell's Bizarro Negotiation
Harry Reid and Mitch McConnell are trying to strike a debt ceiling compromise: But as long as Boehner struggles with his own members, the balance of power will shift back to Senate Majority Leader Harry Reid (D-Nev.), who has been negotiating with Minority Leader Mitch McConnell (R-Ky.). READ MORE >>
The Very Small Sacrifice That's Not On The Table
As Ezra Klein points out, John Boehner is facing the real problem that any passable debt ceiling deal will provoke a rebellion from his own caucus: READ MORE >>
Obama's Incentive To Punt On the 14th Amendment
Jeff Rosen argues today that President Obama would likely win a court challenge if he asserted 14th Amendment prerogative to ignore the debt ceiling. I certainly don't know the law well enough to form a strong opinion about the legal merits. READ MORE >>
Obama Rallies The Troops
The Obama administration has urged its supporters to contact Congress and urge a hike to the debt ceiling. For the Twitter campaign, it's chosen as its hashtag "#compromise." It is a cry that stirs the hearts of men to action. You may take our lives, but you will never take... our compromise! To the barricades! READ MORE >>
Boehner Still Controls The GOP (Updated)
Lots of reports seem to think last night's vote shows that John Boehner is losing "control of his caucus." That's not really correct. Boehner is commanding the votes of about 90% of his caucus. READ MORE >>
The Debt Ceiling And The Crisis Era
My TRB column this week argues that the debt ceiling fight portends a new era of semi-regular power struggles that will shake not just the financial system but the entire U.S. political system. It's subscriber-only, and I advocate subscribing. READ MORE >>
