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Economy
The One Back in the Driver's Seat on Debt Deal
2011-07-31
He tried to coax lawmakers into striking a grand deficit-reducing bargain. Then he tried disappearing for a week to let Congress figure it out.
Was he golfing, or on vacation? I missed it.
Neither approach worked.

Now, with time running out before a possible U.S. government default, President Obama is back at the center of the drama. Only this time, he's been dragged back on terms that are anything but his own. Now he's forced to try to come up with a solution over the next 48 hours that has not been apparent in weeks of negotiations.

The announcement of Obama's reemergence came late Saturday -- not in a triumphant announcement from the White House but from Republican congressional leaders who suddenly seemed eager to hand the baton back to a president they have spent weeks accusing of failing to lead.

Senate Minority Leader Mitch McConnell (R-Ky.) revealed that he had spoken Saturday with Obama and Vice President Biden and that he was confident that a deal was possible. House Speaker John A. Boehner (R-Ohio) agreed, saying that "we're dealing with reasonable, responsible people."
Whoa! When did that start?
As the GOP leaders spoke, Obama and Biden huddled for about 90 minutes at the White House with Senate Majority Leader Harry M. Reid (D-Nev.) and House Minority Leader Nancy Pelosi (D-Calif.) -- presumably to see what maneuvering room, if any, the president might have in his talks with Republicans.
Harry and Nancy. If they got to talk, we're doomed.
How Obama handles himself between now and Tuesday has implications for the country's economy and for his own seemingly fragile political standing, which has taken a hit in recent polls as voters grow more dissatisfied with his economic stewardship.
And the rest of his hopey-changy "leadership"
Averting possible disaster and signing legislation to make deep cuts in federal spending could hand Obama a quick boost -- particularly with the independents who supported him in 2008 but appear to be favoring a Republican in next year's election.
Yeah, a quick boost! Just like when he (single-handedly) killed that dude in Whatchamacallit-stan.
But success means achieving a politically precarious task: finding a formula to win over battle-weary skeptics in both parties and marginalize purist tea party conservatives and liberal Democrats.
Not really, you just have to find something half of the Congress-critters will accept.
Even ending the immediate crisis is likely to set the stage for more difficult battles this year over trimming entitlements and raising taxes -- a process laid out in both the House and Senate bills that seemed to be forming the basis for eleventh-hour negotiations.
Push it off until after the election? What if the election does not go the Chicago Way of the One?
"Being president is haaaaaaaaaard!"
"There's very little room for miscalculation here," Rep. Chris Van Hollen (Md.), the senior Democrat on the House Budget Committee, said of the president's role. The most difficult question facing Obama may come down to how much farther to the right he is willing to move when it comes to enforcing calls for deeper cuts, particularly to Social Security, Medicare and Medicaid, and for eliminating special tax breaks and exemptions.

The White House and lawmakers agree in general that a improved bipartisan commission should be formed as part of any deal to explore those dicier propositions as the second step in addressing the debt, probably by the end of this year. Obama and lawmakers must now agree on what type of "trigger" to establish to force deficit reductions if the commission process were to fail.

Where will Obama draw the line when it comes to enforcing cuts vs. requiring tax increases? He has repeatedly called for a "balanced" approach, meaning cuts and revenue increases. In remarks Friday, the president said he was ready to support "some kind of enforcement mechanism to hold us all accountable for making these reforms . . . if it's done in a smart and balanced way. My way."

White House officials were tight-lipped about the president's intentions. They have said in recent days that Obama spent much of the week with his aides working through endgame scenarios. It remains to be seen whether the president will need to use them.
Cut off little Timmy's oxygen first. Are we ready with the attack ad? Then misfile all the checks for the states that voted against me. Pay Bank of America a week late, and all British banks two weeks late. Furlough the DOT, but put the EPA on overtime. Lay off the Education folks for the rest of the fiscal year - is that still October 1st? Let's see if the kids can go back to school without Federal permission! They'll drive the parents insane!
Posted by:Bobby

#9  GOP "Jello", versus Democrat "Lack of a Plan".

Ouch!

Independents = non-Aligned???
Posted by: JosephMendiola   2011-07-31 21:43  

#8  Take away this teen driver's license in 2012, he is unqualified to be in the driver's seat.
Posted by: JohnQC   2011-07-31 19:00  

#7  For the ONE, it about getting the debt limit raised now, and then postponing doing anything substantive until after elections--if then. He might have a budget by the end of his second term. Can't be losing any votes afterall. Meanwhile, the country/economy are further in the dumper.
Posted by: JohnQC   2011-07-31 16:23  

#6  Time for a tax revolt?
Posted by: SR-71   2011-07-31 14:52  

#5  Man, all this time away from it is gonna absolutely ruin his golf game.
And someone will pay for that...
Posted by: tu3031   2011-07-31 12:39  

#4  Who?
Posted by: swksvolFF   2011-07-31 11:53  

#3  This is one administration that has done everything wrong so far in my opinion. Media enablers have protected him and will continue to do so. He will do what he thinks should be done and blame the Tea party and Republicans for all the mess. He is unable to adapt to his office. He is not growing into a functioning president. He is very capable of vetoing any legislation that is not what he has wanted. He wants carte blanche.
Urban dictionary: unconditional authority.
Posted by: Dale   2011-07-31 09:08  

#2  no, he's standing in the ditch drinking a slurpee. Get an agreement done and see if he has the balls to veto it
Posted by: Frank G   2011-07-31 08:50  

#1   The bankers are in charge not Washington D.C. and if they do raise the debt limit Obammy gets new sub-woofers for his low rider and air force one. Those leopard skin seat covers and crown air fresheners have really take a big bite out of the defense budget.
Posted by: Hupamp Gonque1036   2011-07-31 08:23  

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