The odds of a “clean” debt ceiling hike — which is to say, one that’s not attached to any spending cuts or deficit targets — seem slim-to-none.According to The Washington Post, more and more Democrats are joining the GOP and opposing Obama on this question.
Despite the fact that it needs to be done to continue operating government, and the fact that the public would scream bloody murder if the full implications of it were realised, the debt ceiling vote is wildly unpopular, and you can be sure that any politician who votes for it will get hammered for it in the 2012 election.
Of course, the real story on the debt ceiling fight is this: The GOP wants austerity now because it weakens the economy in the runup to the election. The question is how much blood they can draw, and how much spending Obama has to give up on.
Business Insider Emails & Alerts
Site highlights each day to your inbox.