The president has said that he won’t play the debt ceiling “game” with the Republicans anymore. When he said it, he seemed to be suggesting that he wanted the debt ceiling raised or put under his control as part of any potential Grand Bargain. But, since it appears that we are going to go over the cliff and there will be no Grand Bargain, I wonder how Obama plans on avoiding the game next year. I don’t think he will mint trillion dollar coins. He might invoke the 14th Amendment, but probably not preemptively. I guess the real question is whether the Republicans would dare to threaten our credit rating again so soon after allowing us to go over the fiscal cliff. I think they might wind up finding themselves friendless in the business community if they do that. On the other hand, they don’t seem to be able to help themselves.
What do you think?