Obama Is Desperate To Avoid Another Debt Limit Battle Before Election
Don’t believe a word of it. Obama really just wants to avoid having to go through another battle before Election Day. His rejection of the Boehner Plan has nothing to do with the markets or the economy. It is purely political.
He’s desperate to avoid having to face this issue again. He’s lost ten points in job approval over the battle so far and he wants to get out of town before he loses more.
So the Republican message to Harry Reid is simple: If you want more debt authority so that it takes us to the end of the year, come up with more cuts. Not phony cuts in military spending but real cuts scored by the Congressional Budget Office.
The Boehner Plan gives Republicans a good place to stand. If a government shutdown eventuates because Reid won’t put up extra cuts or because Obama wants to punt this issue until after the election, then they will incur massive blame from the voters.