Business Week provides a Must Read analysis of the current state of the Debt Ceiling debates. They seem to be endorsing whatever the Gang of Six is doing — that they are calling for a “centrist” position probably means that what comes out of this will be anything but. Look for more of this kind of thing as the business community makes it really, really clear that defaulting on the debt is simply not an option. But you can see from this why I think that the President has the best winning hand he will ever get on a fiscal issue. All he has to do is keep telling the world he is looking for a clean bill from the House. He doesn’t have any responsibility here other than signing it. The business community will make sure the Republicans go along for the ride.
This article is accompanied by a really great graphic — you can see who is responsible for building this debt — (click for way bigger version):
