Thread: Economics The Debt Ceiling Approacheth
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Old 01-18-2013, 01:13 PM   #138
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Quote:
Originally Posted by Direckshun View Post
Not unconditionally -- not yet.

They're saying they're willing to raise it for three months.

Just awful stuff, as it continues to fester another cliff over the year.

This is just dousing the economy in uncertainty. This needs to get done for at least the Obama presidency, if not forever.
Not really, though. The 3 month extension is unconditional, and by admitting they have no leverage on this and surrendering, they give up any hope of creating a confrontation in the future over it. In all likelihood, the debt ceiling will be raised when the new continuing resolutions are passed in March. If not, they can threaten to not do it again next time but nobody will take them seriously.
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