Krugman: Debt Limit Stakes

[ProSense]

Debt Limit Stakes

So, here’s where we are on the debt limit discussions: Democrats have agreed to large spending cuts, but are holding out for doing something about

a rule that lets businesses value their inventory at less than they bought it for in order to lower their tax burden, a loophole that lets hedge-fund managers count their income as capital gains and pay a 15 percent marginal tax rate, the tax treatment of private jets, oil and gas subsidies, and a limit on itemized deductions for the wealthy.

And Republicans walked out.

<...>

What this says to me is that Obama cannot, must not, concede here. If he does, he’s signaling that the GOP can extract even the most outrageous demands; he’s setting himself up for endless blackmail. A line has to be drawn somewhere; it should have been drawn last fall; but to concede now would effectively mean the end of the presidency.

[Ozymanithrax]

1. When consenting adults insist on playing chicken, no matter what the stakes...

you need to let them risk getting run over.

Just say no to Republicans.

[ProSense]

2. The expectations

that the President will cave are running high.

The OP is cassic over-the-top Krugman. He's right in theory based on some unknown compromise. There will be a deal. The President shouldn't cave. Republicans are depraved.Still, no matter what the compromise, some will call it a cave, but the likelihood that it means the end of the Presidency is slim to none.Bernie Sanders' 50 percent solution seems reasonable.

What will a "cave" look like?

[Proud Liberal Dem]

4. I've been wondering the same thing

To some, the simple fact that he agreed to step into the negotiations is proof of an imminent cave. There will likely be a deal made at some point and there's going to be somebody somewhere who doesn't like it (or some aspect of it) and will probably consider it to be a "cave" but that won't necessarily mean that it is a bad deal. :shrug:

[Jakes Progress]

5. A cave

would be no new taxes on the wealthy. The country wants to know that the very rich are sharing the burden. Some arcane rule that this reduction in that ratio of leverage forming activity would be placed on a completely different place int he deductions form for corporate investment won't do the job. (Yes, I know that example makes no sense, that being the point.) Making even more rules for tax forms is not the answer. The corporations have 7 figure lawyers to work around that stuff.

I'm not gonna roll over and die about small changes based on wealth requirements, but I want the people I see in the center everyday served better, not worse. Caving would be anything that hurts the poor and lets the rich off with a token effort. A cave would be proven in the self-satisfied smile that boener and cantor can't stop when they know they have faced down our president again.

I see the expression "end of the Presidency" in a couple of ways. First is that it would diminish the powers of the office for some years because congress would have developed a strategy for power grabbing. That would be a terrible legacy for the president to leave. The second is is that Obama will have finally given up any credibility in his power to be effective. Once a patsy is bad. Being a continual patsy is not something he can fix in his remaining years in office.

[Tx4obama]

3. Keith Olbermann w/ Ryan Grim Regarding the Debt Ceiling and the 14th amendment - VIDEO

Keith Olbermann w/ Ryan Grim Regarding the Debt Ceiling and the 14th amendment - VIDEO
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x596209