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.