President Barack Obama is in no hurry to make a deal on deficit reduction and raising debt ceiling. The White House believes his ability to craft an agreement more to his liking improves every day he stalls, according to a report from National Journal’s Marc Ambinder.
As the default date of August 2 nears and the bond markets panic, Ambinder says Obama will reach his “political apogee” — at which point he can bully Republicans to accept a deal that includes raising taxes.
He explains Republicans’ statements that they will not accept any revenue increases as part of the agreement as an attempt to bait Obama into taking tax increases off the table before they lose their leverage.
The bottom line: “The longer Obama waits, the more Republicans will privately panic, knowing that their leverage decreases steadily as the weeks go by — and exponentially at the turn of August.”
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