New York Times: Delusional on the Debt Ceiling

In a recent New York Times op-ed, Bill Keller laid out a strategy for how President Obama can regain momentum when it comes to the fiscal cliff America faces on January 1, 2013. According to Keller: President Obama should declare now that unless Congressional leaders come up with a serious bargain on fiscal reform, something very like Simpson-Bowles, he will allow all of the Bush tax breaks to lapse and all of the draconian cuts to take effect. Assuming no deal is consummated in the poisonous pre-election climate, he should insist on a lame-duck session after Election Day. He should invite Congressional leaders to Camp David, put Simpson-Bowles on the table, and negotiate - not a lot, since the plan already includes considerable compromise, but enough to show good will. If no deal emerges, all the Democrats have to do is take a page from the Republican playbook: dig in their heels and do nothing. Unfortunately for Keller, the thesis of his column is based upon wishful thinking, and...(Read Full Post)