Zachary Karabell: Why is Obama Opposed to a Short-Term Debt Deal?

July 27th, 2011

by Zachary Karabell
July 27, 2011

As the tortuous debt ceiling debate continues, with plot twists that even the most diehard political junkies are having a hard time keeping straight, one aspect continues to bedevil the process: the staunch refusal of both President Obama and Senate Majority Leader Harry Reid to accept a short-term deal.

Here at least it seems that both parties could come to an agreement not to torpedo the economy with a government shutdown and market turmoil and instead give everyone time to either work out a compromise or take their case to the electorate. Yet while the Republican leadership appears willing to shelve their ideological crusade for a few months in the interest of maintaining some level of public order, leading Democrats appear much less amenable to a pragmatic short-term deal.

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