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Payment prioritization and the debt limit
I’d like to explain why I think “payment prioritization” proposals are bad ideas, why and how Congressional Republicans should support a debt limit increase, and why they need to be smart about how they push for spending cuts.
Definitions of fiscal deadlines and consequences
There are some technical terms being thrown around indiscriminately in the press. This is a quick clarification so you know how to distinguish among them.
A modest debt limit strategy
Either the President accepts and Republicans pound on the “Democratic debt limit increase” message every three months, or he agrees to cut spending. Either way, default risk is eliminated. Republicans will look responsible because they will be acting responsibly, and the markets couldn’t care less about which Members take political heat for casting these unpopular votes.
The venue shifts
Since the Speaker announced plan B at the beginning of the week, the venue for substantive negotiations has shifted from Obama/Boehner to a standard House/Senate dynamic.