Drop Dead Date for Disaster

The key to any negotiation, whether in business or on the legislative battlefield with respect to raising the debt ceiling, is to understand where you are strong and where you are weak.  In the current debt negotiations, the Republicans are both strong and weak.  They would do well to understand this, because this is where they can have an advantage. It's clear from his vitriolic speeches and serial, changing demands that the president does not understand either his strengths or weaknesses.  At first, ignoring the results of last year's elections, he thought he had the power to demand a "clean" debt increase, one without any cuts in spending.  Then, he thought he could decree a large enough increase in his power to borrow to get him through next year's election without having to discuss his profligate ways.  After that, it was about a "balanced approach," which is code for his politics of bitterness and envy, the purpose of which is to sock job-creators and...(Read Full Article)