Obama Folds To GOP Bluff On Debt Ceiling Negotiation
Yesterday, Jed Lewison wrote a post titled White House calling Republican bluff on debt ceiling. It seemed an premature interpretation of events to me, as I commented. Today, via Ezra Klein, it seems that Lewison's rosiness was misplaced, as the WSJ reports that President Open to Deal on Debt Cap:
Softening the administration's earlier insistence that Congress raise the so-called debt ceiling without conditions, officials now say they won't rule out linking an increase of the borrowing cap with cuts aimed at reducing the deficit—even though they'd prefer to keep the issues separate.
Again, I think this is bad bargaining. Of course, in the end, a deal will likely be made. But folding before there is even an offer on the table is simply bad bargaining. Instead, the White House should have been working on unveiling a contingency plan against GOP intransigence on the debt ceiling.
Speaking for me only
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