I’m having trouble coming up with a term for this. But the conventional wisdom, the groupthink, I mean, folks, I don’t care where you go, and this is not a criticism. I’m actually looking at this in wonderment. I don’t care where you go. It could be a left-wing blog or right-wing blog, a left-wing magazine, a right-wing magazine, a left-wing newspaper, right-wing newspaper, they’re all analyzing these negotiations in the same way: Can Obama prevail over the Republicans? Do the Republicans have any leverage? Are the Republicans going to get entitlement reform? Will there be any serious tax reform? Will there be any serious spending cuts?

All of that is just bunk. It’s not real. That’s not what’s happening. In the leverage that the Republicans have? “That’s right, Mr. Limbaugh, the Republicans have leverage that they don’t even know they have, because Obama doesn’t want that second term recession. They need to call his bluff. They don’t dare cave on this because Obama does not want to be saddled with a second term recession.” I don’t think he cared about the first term recession. And besides, an Obama recession is never gonna be called a recession. The people who write the history are Obama’s friends. Whatever happens economically: 399,000 unemployment claims is good news, and 7.9, 8.2% unemployment, not a problem.

Would somebody explain to me how the people who elected Obama, who support Obama, who love Obama in the media, in the universities, who write the history, are going to write anything critical of the guy no matter what happens? Even if there is a second term recession, you’re gonna need a telescope to find it reported, just like you need a telescope to find Oprah’s network now. It won’t be reported as a recession. So what is the leverage that the Republicans have? To my mind the only leverage they’ve got is to walk away from this, to stop playing, to stop talking, to stop playing this game.

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