Yglesias on debt ceiling clown show

House GOP Just Showed Why Obama Can't Compromise on the Debt Ceiling by Matthew Yglesias

The absolute worst mistake Obama has made as president came back in 2011 when Republicans first pulled this stunt. At that time, Obama desperately wanted a bargain over long-term fiscal policy. So he tried a bit of too-clever-by-half political jujitsu in which GOP debt ceiling hostage taking became a pretext to start negotiations over long-term budgeting. All manner of evils have fallen forth from that fateful decisions, including an economic weak patch in 2011 the ongoing mess of sequestration, and worst of all the setting of a precedent for future crises. The good news is that the White House recognizes they made a mistake, and the last time Republicans tried to pull this they didn't give in. And they can't give in now. Not even a little bit. A terrible monster was let out of the box in 2011 and the best thing Obama can possibly do for the country at this point is to stuff it back in and hopefully kill it.