Obama Hands Congressional Opponents New Debt Ceiling Hostage, Continues To Flunk Bargaining 101

Once the President of the United States accepts the premise that it’s reasonable to ask him to make concessions in exchange for an increase in the debt ceiling that both John Boehner and Eric Cantor have conceded is necessary, he’s giving away the game. We’re now in a new legislative hostage crisis that seems to me unlikely to have a happier ending than the tax cut fight or the appropriations fights.

This is particularly tragic because it didn’t have to be this way. A debt ceiling expiration won’t result in a cataclysmic immediate shutdown giving the administration an opening to take a harder negotiating position. But it looks like my proposed hostage rescue strategy won’t be implemented.

Bad news.