The vote sets up the Republicans' next round of confrontation with Obama and Democrats over must-pass legislation to allow the government to borrow more money to finance its operations and obligations to holders of U.S. bonds. For the first time, Obama acknowledged that raising the debt limit is "not going to happen without some spending cuts" insisted upon by Republicans and some Democrats.Some people call what PHC* is doing "negotiating" or even, in the course of the boot-licking and butt-kissing that followed his Wednesday speech, "defending liberal values."
I call it "surrender on the installment plan."
*PHC = President Hopey-Changey
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