• We’ve all said we would vote for the full faith and credit of the United States to be honored by voting for this increase in the debt ceiling. If they don’t want to do taxes, maybe they don’t want to do anything.
• House Minority Leader Nancy Pelosi • Pointing her finger at Republicans — emphasizing that if nothing’s done about the debt ceiling situation (because they aren’t willing to raise taxes), it will greatly hurt them. The New Republic’s Jonathan Chait suggests that this is a power play on Pelosi’s part; if the Republicans can’t make a deal with Obama, it’s likely to damage the economy in such a way that a) it will hurt Republicans and b) it will hurt Obama. One group it won’t hurt, however, is House Democrats — meaning that they’d get some much-needed leverage in 2012 and Pelosi will no longer be an afterthought. This is what we call game theory.  source

Posted by Ernie Smith • Permalink