But for all of the media narratives about the GOP in disarray, I suspect the House will end up backing Boehner for lack of a politically viable alternative, even in the House. Moreover, in terms of approach, it is the basis for a deal with the Senate. As Douglas Holtz-Eakin notes:THE ONLY REASON THERE HASN'T BEEN A DEBT CEILING DEAL TO DATE IS THAT OBAMA REFUSES TO ACCEPT A DEAL WHICH REQUIRES MORE THAN ONE DEBT CEILING HIKE IN HIS TERM - EVEN THOUGH REAGAN HAD NINE IN HIS FIRST TERM AND DUBYA THREE IN HIS FIRST TERM.The other major difference is that Reid wants to kick the next debt ceiling hike past the 2012 election.
The plans are quite similar. Indeed, the best way to think about the Reid plan is that it is simply the Boehner plan with fake cuts (largely war spending) added on. Put differently, executing the Reid plan is the same as executing the Boehner plan and then adding an unrestricted debt limit increase on at the end. Since so-called “clean” increases are a signal to markets that the U.S. cannot address its fundamental problems, this is extremely dangerous and undesirable.
OBAMA DOESN'T WANT TO HAVE TO DEAL WITH THIS ISSUE NEXT YEAR - HIS REELECTION YEAR.
OBAMA IS PUTTING HIS OWN REELECTION AHEAD OF THE COUNTRY.
OBAMA IS EVIL.