What's obvious in the debt limit debate is that Democrats want the limit increased enough to place the next increase after the 2012 elections and Republicans are willing to increase the debt enough to make sure the issue of deficits and debt comes before Congress in January, 2012, just in time for caucuses and primaries.
The focus is now shifting to Congress and the four leaders met last night without the President.
With the knowledge in hand that Mr. Obama cannot turn water into wine, it is time for lawmakers to cut a deal and see if the President will sign it. That is what the Constitution outlines in terms of process..
Speaker Boehner will try to advance a legislative package he thinks can get a handful of moderate (vulnerable) Democratic senators to support....If he gets that passed, then the monkey is on the President's back (that's an old expression).
I don't ruminate too much about this what with the loss of Amy Winehouse and the chance of seeing a Casey Anthony interview. The economy and the markets have run for years and always go up and down...but in the end survive.
Boehner Prepared to Move GOP Debt Framework - Jim O'Sullivan' - NationalJournal.com