Republicans Backing Off Debt Ceiling Fight
Greg Sargent picked up on a nugget from a Wall Street Journal interview between Stephen Moore and John Boehner in this exchange:
I ask Mr. Boehner if he will take the debt-ceiling talks to the brink — risking a government shutdown and debt downgrade from the credit agencies — given that it didn’t work in 2011 and President Obama has said he won’t bargain on the matter.
The debt bill is “one point of leverage,” Mr. Boehner says, but he also hedges, noting that it is “not the ultimate leverage.” He says that Republicans won’t back down from the so-called Boehner rule: that every dollar of raising the debt ceiling will require one dollar of spending cuts over the next 10 years. Rather than forcing a deal, the insistence may result in a series of monthly debt-ceiling increases.
The Republicans’ stronger card, Mr. Boehner believes, will be the automatic spending sequester trigger that trims all discretionary programs — defense and domestic. It now appears that the president made a severe political miscalculation when he came up with the sequester idea in 2011.