What are the major players thinking about the debt ceiling issue?

AT News editor Ed Lasky points us to this very good summary at Politico of what the two sides - and the markets - are thinking this Monday as the deadline to raise the debt ceiling approaches. WHAT TOP DEMS ARE THINKING, per an official familiar with the negotiations: "1. A short-term extension would create tremendous uncertainty in the economy and risk a downgrade. No short-term extension can pass the Senate, so any proposal like that is dead on Day 1. Both Cantor and Boehner opposed short term extensions last week. 2. Senate Dems and the White House have bent over backwards to give the Speaker a way out of the mess he created on Friday by blowing up what would have been a good deal, but he can't bring himself to say 'yes' to anything. 3. The GOP doesn't only oppose all Dem plans -- they oppose their own plans. [...] WHAT TOP REPUBLICANS ARE THINKING, per a House leadership aide: "President Obama blew up any chance of a bigger agreement with his insistence on tax hikes and by...(Read Full Post)

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