Did President Obama make the case for a “fair” debt deal?

Politico TheArena logoArena Asks: President Barack Obama called on the American people Monday night to send the message to Congress that it must approve a “balanced” approach to resolving the stalemate over the debt ceiling and deficit.

Will the president’s latest plea for a “fair” compromise spur lawmakers to a deal? Are these public appearances helping the president’s cause?

My Answer: Personally, I’m sick and tired of Obama’s “balanced” approach. I think he must put forward a much stronger agenda to draw the debate closer to his position and engage people emotionally in his vision for the future if he wants to break the logjam…

Read More

Debt ceiling – looming catastrophe or Y2K redux?

You know the drill — Politico’s Arena asks, I answer. I’d like to know what you would have said, so please tell me in the comments section below.

 

Politico TheArena logo

Arena Asked: President Barack Obama, Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke warn of calamitous effects if the nation’s debt ceiling is not raised soon. But a few prominent Republicans, such as Minnesota Rep. Michele Bachmann, a presidential candidate, say nothing much would happen and blast the administration for its “scare tactics.”

Are Bachmann and co. naive about the consequences of default? Or do they have a point? Might this be the economic equivalent of Y2K, the turn-of-the-21 century computer scare that ended up causing minimal damage?

Read More