TPM Reader MM doesn’t think people see what’s coming …

I’m not sure, after reading 9 reader responses, that people are fully aware of the consequences of a debt default, or even avoiding default by issuing bonds to fight over in court later, issuing console bonds, minting the coin or prioritizing payments.

DeSantis campaign sends Ron to Iowa with brief to seem like a normal person.

From TPM Reader SB …

How do you explain Biden’s actions? why the heel turn, and why now? He had to know republicans wouldn’t back down. He knew he was amping up his supporters who think it’s past time someone told the legislative terrorists to make our day. He was putting some drag on the markets. He was undoubtedly making some republicans quite nervous. (He was undoubtedly making some democrats nervous too.) Why do all of that for, as far as I can tell, absolutely nothing?

From TPM Reader JR …

Great post, as always. I ended up reading this back-to-back with articles like this Bloomberg piece, in which House Progressives are vowing to block any deal that negatively impacts things like SNAP.

As I soak all this in, I find myself returning to the same (unfortunate and maddening) conclusion: This was always how it was going to go for the Dems.

From TPM Reader JS …

You’re probably right that they’ve decided to give up something. An interesting question would be why. But I would point out that they have pretty much completely failed to solidify that this isn’t a “both sides do it” situation and all the normie stuff you read just wants everyone to make a deal.

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.

From TPM Reader KW …

Thanks to Josh for calling it like it is – Joe Biden is negotiating. But I wonder if that necessarily means that we still won’t run off the cliff. What I mean is that there are any number of Republican crazies in the House who may insist on something that Biden simply cannot and will not agree to. Which would mean that we are back to the Biden team having to figure out some workaround, like premium bonds. It reminds me of the Republicans throwing a temper tantrum regarding the January 6th committee makeup, which resulted in them cutting off their nose to spite their face.

From TPM Reader CB …

Polls show that Americans are equally divided on whether a clean bill should happen or whether there should be spending cuts.  Josh in his Editor’s Blog piece “Let’s Call It” rightly points out that democracies can’t succeed if they are held hostage.  But the average voter is who counts, not those of us who actually understand political theory and its practice.  If one side or the other gets blamed for the consequences of not raising the debt limit, there will be hardcore reverberations for the next election.