To listen to Obama's statement about budget negotiations this afternoon, you would think that he has willingly embraced the debt ceiling deathline as a means to force a deficit reduction deal quickly: the current negotiations under threat of default are, he said, "a unique opportunity to do something big." Refusing to entertain the possibility that a comprehensive 10- or 12-year deal won't be struck before the August 2 debt ceiling deadline, Obama said that lawmakers should not "kick the can down the road" with a short-term fix.
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Obama is two years early on deficit reduction…
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To listen to Obama's statement about budget negotiations this afternoon, you would think that he has willingly embraced the debt ceiling deathline as a means to force a deficit reduction deal quickly: the current negotiations under threat of default are, he said, "a unique opportunity to do something big." Refusing to entertain the possibility that a comprehensive 10- or 12-year deal won't be struck before the August 2 debt ceiling deadline, Obama said that lawmakers should not "kick the can down the road" with a short-term fix.