'In a bold but risky year-end strategy, Democrats are preparing to raise the federal debt ceiling by as much as $1.8 trillion before New Year’s rather than have to face the issue again prior to the 2010 elections.'
Of course, they haven't quite succeeded in beating the New Year's deadline, and the loss of the Massachusetts Senate seat to Scott Brown, may change the calculus, but this would be the third time to raise the debt ceiling since President Obama took office. From The Hill:
'Both the White House and the independent Congressional Budget Office last month said that they expect the debt to increase by another $9 trillion over the next decade. Should the Senate follow the House's lead and set the new debt limit at $13 trillion, lawmakers would probably have to raise the limit again next year, when the Obama administration expects to run a $1.5 trillion deficit.'
On Christmas Eve, the Senate raised the ceiling marginally by $290-billion, buying a little more time, but the Senate will raise the ceiling in February. Presumably, they hope that voters are too stupid to notice this come November. Perhaps they hope to stage "Hope - The Obama Musical Story," at the Kennedy Center, by way of distraction.
As I wrote yesterday, I think it's important that Republicans take care to not over-reach following the the phenomenal win by Scott Brown in the Massachusetts special election. Hubris has brought the party low very recently. Nonetheless, the win should clearly signal that the public thinks that the Obama administration and Congressional leadership have moved too far to the left, and is particularly discontented with the health care reform bills, lack of transparency and the economic recovery proposals. Repeated polling, by non-partisan polling organizations, have demonstrated that voters are royally angry at the health care bill, security failures and general direction of the country.
Strangely, some on the left have reached the crazy conclusion that blue-Massachusetts elected a center-right candidate because Congress has not gone far enough left. If the administration buys 'move-left' drive, they may very well drive voters to vote for the GOP out of sheer reactionary anger. Those reaching this conclusion are calling for health care reform to pass through reconciliation, whereby the bill would be passed only on budgetary issues. Such a process would eliminate many of the current special arrangements in the bill, but arguments are being made to re-insert a public option, under the assumption that it could be massaged to (at least in the short term) be fiscally neutral under CBO assessment.
Where does the GOP go from here? Elections over the last four years have repeatedly demonstrated that the voters do not want the extremes from either side. The majority of the country has been for some time, and looks likely to remain, center-right. This can play against both parties, where the tendency is to move to the extremes. Brown campaigned (and his voting record as a state senator bears this out) as a center-right candidate. He effectively captured voter anger over the economy, security issues and the health care reform proposals. He has never suggested that health care reform should be abandoned, but rather that Congress and the administration are going about it the wrong way. The GOP needs to do more than just say no to the left, it needs to formulate successful, well-thought out, counter proposals. If considered, detailed proposals are put up for debate by the public, we will have a much better chance of effectively moving policy, and of gaining seats in November.
UPDATE 7: Highlights from the Brown victory speech: "I bet they can hear this cheering all the way in Washington D.C." That would be the reason you were elected - he does seem to get this. "The independent voice of Massachusetts has spoken ... the independent majority has delivered a great victory." The crowd is chanting "41, 41, 41." Brown - "This Senate seat belongs to no one person, no one political party ... this is the people's seat." Crowd now chanting "seat him now." Sen. Kirk apparently willing to step aside as soon as possible. "I'm ready to go to Washington without delay." Brown is giving fairly gracious praise to Ted and Vicky Kennedy. He clearly understands the independent nature of his state.
UPDATE 6: Highlights from the Coakley concession speech: Martha Coakley concedes by saying that Brown has "... two lovely daughters." Yes, he does, but what does that have to do with anything? She appears to have only her own staffers applauding during her concession speech. "I headed out on the campaign trail for the last two days." That would explain, in part, why she lost by a larger-than-predicted margin.
UPDATE 4: Fox News is reporting the Martha Coakley has conceded. Scott Brown is maintaining at 53% with 75% of precincts reporting. AP reports the same.
UPDATE 3: With 70% of precincts reporting, the results below remain the same. Even Dems are breaking for Brown to some extent (although turnout for Dems may be low despite pleading from all in the party). Independents are overwhelmingly breaking for Brown, and largely over the health care reform debate.
UPDATE 2: Per Fox News - Brown 53%: Coakley 46%
UPDATE 1: Live blogging with reader feedback @ RealClearPolitics.com: http://realclearpolitics.blogs.time.com/2010/01/19/massachusetts-senate-race-live-blog/.
Preliminary results show Scott Brown holding on to a solid majority of votes. Updates will continue throughout the night.
