Paul Krugman: The President Surrenders

[ubiquitous_a]

A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong.

For the deal itself, given the available information, is a disaster, and not just for President Obama and his party. It will damage an already depressed economy; it will probably make America

Comments

[3bird]

When asked why he didn't, he replied that he was sure that Republicans would act responsibly.

ffs really?

[quemadura]

Yeah, that's not gonna happen until he leaves the White House. trust.

[cassandraleo]

Yeah, that's not gonna happen until he leaves the White House. trust.

Ftfy.

[quemadura]

I'm pretty annoyed, as this is bullshit to the highest order. Obama keeps folding, and both sides know he'll fold. I'm sort of disappointed in that regard. I really think he just needs to give the Republicans deuces and if someone says 'hey wait' he can just do shit his way.

Urgh, how much longer until this all can go away? Next year? 2013? We need a goddamn recall.

[bitchsdangerous]

STOP CAVING OBAMA! Goddamn!

[synth___romance]

At the very least, Mr. Obama could have used the possibility of a legal end run to strengthen his bargaining position. Instead, however, he ruled all such options out from the beginning.

This is an interesting point, because with this power the democrats would have less reason to bargain or play into this chicken game with the repubs, because in the end they could say "whatevs, obama will 14th amendment your ass so I don't have to bargain with you anyway, this is for YOUR benefit." Thus, by coming out early and saying "you children need to work this out yourself" he's not giving his party the upperhand that he should.

[julietislimited]

Forehead meet table. Table meet forehead.
:bam:

This whole mess is driving me insane.