Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Metacomet who wrote (213754)	1/3/2013 3:30:11 AM
From: koan	Read Replies (1) \| Respond to of 541572

No, there is no particular population whose basic economic survival has been tied to a successful conclusion. But what there is, as Ezra Klein is fond of pointing out, is worldwide economic calamity if the debt ceiling isn't raised. Worse than 2008 maybe. That is the size of Obama's bet. What's more, it is easy even money those crazy right wingers will refuse to raise the debt ceiling without lifting the cuts in defense. Tit for tat. Krugman thinks we go over the cliff. I think we go ove the cliff. And if we do, Obama has a worldwide economic collapse not unlike 2008 on his hands. Many of us feel this is exactly what many on the right want and so it will happen. Big bet. But if he had used executive acition for the 14th amendment, it made more sense because if the supreme court upheld it, the problem would have gone away easily, without any drama or risk. I like that tactic much better. Just raise it and let the courts sort it out. Of course he has sort of made that impssible now. IMO. <<In both of the previous negotiations, there have been specific population segments whose basic economic survival has been tied to a successful conclusion In both instances, unemployment compensation has been threatened to be denied by the GOP, putting those Americans at extreme risk Since the fiscal cliff debacle included a 1 year of extension of those benefits, and as far as I know there is no group of Americans that can be held as specific hostages by the GOP in dealing with Obama, I would expect him to exert control in the debt ceiling negotiation ...and Americans really do need to send competent representatives to Washington