President Joe Biden met with congressional leaders today over the debt ceiling, which the Treasury will hit in about a month.
A wounded political animal — 36 percent approval rating indicates wounded — Biden may go for broke, in a metaphorical and literal sense, here. He wants to pin this on Republican intransigence, so political incentives do not really exist for him to find common ground that solves the problem.
While hitting the debt ceiling does not represent the exaggerated crisis indicated by Treasury Secretary Janet Yellen and others, it does represent a crisis. Nobody wants to play chicken with the U.S. economy — nobody, save for a politician who values his survival over the country.
Ginning up a crisis, and pinning it on the opposition with the assistance of a courtier press, looks like a possible solution to his political problem.
Our budget problem? That clearly ranks as a tertiary concern for the president based on his refusal, until this moment, to meet Republican congressional leaders on the issue and on his heretofore hardline, no-negotiations stance.
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