From TPM Reader JE …
Once again, I agree with your analysis on a negotiation being a negotiation, but from my reading of Biden‘s comments, there’s a real threading of a needle. Any of the potential “workarounds” such as minting a platinum coin, the 14th amendment, or consort bonds all have serious drawbacks and the economy will take a huge hit. There’s no pain-free way around this.
If Biden is able to negotiate a framework for future budget negotiations (technically not the debt ceiling) he’ll be seen by the American people as being reasonable and there will be a lot of pressure on Republicans in purple districts. If he gets his way, good. If the Republicans act on their worst impulses and push for default, Biden will have more political capital in being forced in the 11th hour to take one of these alternate approaches and blaming Republicans for any fallout. I’m not an optimist, but I wouldn’t be surprised if Biden and the Democrats present a “negotiated plan” for future budget talk frameworks to lock in some of their priorities now and when the budget talks commence. So yes, Republicans will get two bite of the apple but they might be smaller bites. Who knows….
