• Look, he owns the economy. He’s been in office for three years. We refuse to let us entice us into co-ownership of a bad economy.
• Senator Mitch McConnell • Basically validating our suspicions about his proposed debt limit fail-safe, where the job of raising the limit would be transferred from congress to President Obama. He also subtly acknowledges the core weakness the Republicans have had in the debt limit debate all along; they’ve pushed so hard to convince portions of their base that they’d be willing not to raise it, the public at large can see plainly which party even made such an economically horrifying idea possible. As such, the GOP is in a tough spot, knowing they have to raise the limit (because they’re not truly ignorant to what it would do to the economy, as shown by McConnell’s own words), but also knowing they’ve stoked elements of their base against the idea for months. We seriously doubt they can placate that base with the new plan. source

Posted by Chris Tognotti • Permalink