Budget, debt ceiling talks inch forward

With the president finally agreeing to negotiate on the budget and debt ceiling bills, it is probably only a matter of time before a deal is struck. I detailed the outline of an agreement yesterday. It appears that Republicans will give Obama a "clean" short term debt ceiling increase - perhaps as little as 6 weeks - while keeping the government shut down. During those six weeks, there would be negotiations on a host of issues, including adjusting sequestration to make it more specific, some significant entitlement reform, further cuts in discretionary spending, and perhaps an agreement on how to proceed with tax reform, especially corporate taxes. All, or most of this, would be wrapped up in nice, tidy bow and attached to a bill that re-opens the government and raises the debt ceiling another couple of trillion dollars. But they don't refer to legislating as "sausage making" for nothing. New York Times: Mr. Boehner and his colleagues left the White House without speaking...(Read Full Post)