The kabuki debt ceiling jig started back up yesterday when Boehner says he never left the dance.
On CNN State of the Union, Geithner said he sees two paths to raising the debt ceiling, the Obama-Boehner "grand bargain," or the "last ditch" McConnell-Reid proposal. He added that "both sides are getting a lot closer on ... the tough choices," particularly their commitment to preventing default.
They still have time to walk out of meetings and blame each other for this folly until the vote to raise the debt ceiling is finally done. Even if it's been evident that Boehner needs Democratic votes in the HOUSE to pass, Timothy admitted it to Crowley on CNN today. rough transcript:
Geithner: It's been clear for sometime that to get legislation passed, to avert a default credit rating and to solve our fiscal problems this is going to require democrats as well as republicans. I'll tell you I had a conversation with republican leadership after the midterm elections..They said, we're going to need democrats with this debt ceiling thing cause it's going to be very hard for us. They knew from the beginning they'd need democrats to pass the House....and to pass the Senate.
The Tea Party caucus in the HOUSE needs a lot of cover to vote no on any plan that raises the debt ceiling, but how much crow is Pelosi's crew going to eat over this? We can only hope a Grand Bargain that cuts into our social safety nets is not going to happen and we'll have to wait for the info to come out as this dance plays out.
What Obama Was Willing to Give Away
Jonathan Cohn summarizes what seems to have been in the deal that Boehner walked away from; it’s horrifying. Above all, the proposed rise in the age of Medicare eligibility was a real betrayal of both Democratic principles and good government..read on
Geithner was very tight lipped about what was being actually discussed in this new/old big deal, but the kabuki continues. Getting up a 5:30 am with coffee not ready yet is not conducive to clear thinking--especially on the topic of the debt ceiling.
