The debt ceiling deal has been struck and the score looks to be in the neighborhood of Republicans: a zillion, Democrats: zero. It is perhaps the inevitable outcome of a process in which Obama treated GOP default-threatening tactics as legitimate and accepted the GOP framework that cutting debt, not creating jobs, was the country’s central problem. As a result, we have a deal that severely undercuts Democratic policy priorities and cuts government spending just as the economic recovery is showing signs of tanking. Just how, exactly, did it come to this? The most plausible explanation is that Obama and his political advisors are convinced that striking a bipartisan compromise on debt reduction is the way to the hearts of America’s political independents, who famously abandoned the Democrats in 2010.
The above excerpt was originally published in The New Republic. Click here to view the full article.