"While the proposal from Sen. Mitch McConnell (R-KY) was roundly rejected by many Republicans earlier this week, it is gaining more traction in both parties, as Senate Majority Leader Harry Reid is working with McConnell on the matter." Via Neal Boortz who wrote:
Apparently it deprives Obama of his precious tax increases on the high-achievers. At least that’s something. It also creates some cockamamie idea about setting up some sort of a commission to recommend spending cuts. When those recommendations are made the congress will either vote them up or down without amendments. Yeah … that really works for the base closing commission.
Obama's Debt-Ceiling Opportunity: He could do a lot for his re-election prospects by getting more serious about spending cuts. "The weaker the hand Barack Obama has to play, the more sanctimonious he becomes. That was clear in his news conference last week when the president lectured Congress that "there's no point in procrastinating," and argued senators and representatives "need to do their job" and raise the debt ceiling. He presented himself as a model of fiscal discipline, the one serious adult in a city full of distracted children. This claim is detached from reality." Karl Rove, July 7, 2011
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