The Mind of a Hack

Scott Armstrong thinks Barack Obama has a secret plot to make the Republicans vote to push the country into default, helping his reelection chances. Seriously: Allowing the country to go into a default is a risky strategy but the Obama team is desperate and by their thinking has little to lose by going for broke. [...]

Boehner Walks, Obama Finally Gets Angry

It must be infuriating trying to negotiate with people who have no interest in reaching a deal.

Yes, Defaulting on Entitlements is Still Defaulting

Matt Best at PA Water Cooler asks: Can anyone answer me this question – If we don’t raise the debt ceiling, will that mean we default on our debt? Or will it mean that we simply cannot borrow more money? Is it true that the government has, as it’s first obligation, to make debt payments? [...]

Not a Normal Party

How far to the nutty right is the House Republican position on the debt ceiling? Well to the right of Republican voters. Nate Silver looks at the polling evidence: If Republicans in the House insist upon zero tax increases, there is a larger ideological gap between House Republicans and Republican voters than there is between [...]

What Bad Faith Negotiating Looks Like

David Kurtz: Republicans are insisting that any deal must include spending cuts equal to the additional borrowing authority they grant in raising the debt ceiling. How much is that in dollars? Well, it depends on how much you raise the debt limit. President Obama wants to raise the debt ceiling enough to give the federal [...]

Obama’s Winning the Debt Ceiling Politics, But at What Cost?

Rich Wilkins nicely sums up the state of the politics on the debt ceiling fight: “Let’s step up. Let’s do it,” the president said at a White House news conference between negotiating sessions with congressional leaders. “I’m prepared to take on significant heat from my party to get something done, and I expect the other [...]

"S&P To Deeply Cut US Ratings If Debt Payment Missed"

Reuters: “If the U.S. government misses a payment, it goes to D,” [Standard & Poor's managing director John Chambers told Reuters]. “That would happen right after August 4, when the bills mature, because they don’t have a grace period.” See also: 235 economists, 6 of them Nobel Prize winners, are calling on Congress to pass [...]