If the contingency plan passes, Congress will be voting to increase the debt ceiling by more than $2 trillion. That’s what the initial vote would essentially do. Everything subsequent to that is bells-and-whistles meant to distract from the main event. If I’m President Obama or a congressional Democrat and I want a cleanish increase in the debt ceiling, I’d favor the contingency plan.
"If I’m President Obama or a congressional Democrat and I want a cleanish increase in the debt ceiling, I’d favor the contingency plan."
Exactly. This is why this was pretty stupid of McConnell. He just gave the Dem's and out to not have to do anything at all and get the debt ceiling raised.
Reply to this commentLinkReport AbuseThe two biggest losers -- aside, of course, from all of US who pay for this crud -- are Norquist and McConnell.
Norquist lost his purchase. McConnell lost the last shred of credibility he had left.
I guess Mitch can take bitter comfort in that the MAGNITUDE of his loss was NOT THAT BIG, albeit permanent.
Reply to this commentLinkReport AbuseOr worse. Take the deal. As soon as it's signed, vow to veto any 2012 budget that doesn't cover 2012 appropriations with a debt limit increase. Then watch the House and Senate GOP get into a full on war...
Reply to this commentLinkReport AbuseObama doesn't want a clean debt ceiling bill, he wants political cover to cut medicare and social security and raise taxes by trillions of dollars.
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