Almost anyone can tell you that the budget debate and the debate on the debt ceiling are complicated. Now that they are tied together, the complications multiply but that's only a part of the story. There are underlying concerns that affect all sides of the negotiations.
There are two additional issues that are less obvious. The first is that this debate is simply a proxy for the decades-old argument about the size and function of government. That philosophical disagreement will be the subject of a future blog.
The second under-the-radar issue is the impact the negotiations will have on the 2012 federal elections. There will be some resolution in the budget and debt stand-off and it may or may not happen before August 2nd. Either way, it appears there will be a definite "winner" and a definite "loser" among political parties. In this case it may not matter which side has the best ideas; the party that wins the showdown will almost certainly have a real advantage in the next elections.
There are two additional issues that are less obvious. The first is that this debate is simply a proxy for the decades-old argument about the size and function of government. That philosophical disagreement will be the subject of a future blog.
The Lincoln Memorial Image via Wikipedia |