this is potentially a big win for President Barack Obama, if you assume that his objective is advancing his re-election chances rather than enacting a progressive political agenda. – BI

John Carney, NetNet

EXCERPTS:

Start with the fact that Obama now doesn’t have to worry about raising the debt ceiling until after the 2012 election. Since the American people are greatly opposed to government borrowing, Obama really wanted to avoid having to advocate for more debt in an election year.

Republicans in the debt ceiling debate will now give the GOP “ownership” of the economy. That’s another victory for Obama because the economic outlook right now looks very, very bleak.

In short, this was a great victory for the electoral prospects of Obama—even if it was a loss for the prospects of progressive political achievements.

FULL ARTICLE

Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere:

• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
•