Quote:
Originally Posted by Gattigap
It's a metaphor.
Playing with the nation's credit rating as leverage will work until it doesn't. If it works this time, the temptation will be too strong to keep going back to it as the primary means of policy change.
That's bad.
Given the difficulties in raising the debt ceiling this time around, it seems plausible that it would be even more difficult to do in an election year.
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Or alternatively, you put the issue squarely in front of the voters. Assuming the climate doesn't change in the next 12 months, Obama does not want to have to defend another debt ceiling increase while he is trying to get elected.*
*the same Obama that voted against the debt ceiling increase as a senator.
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