House Republicans need to help House Speaker John Boehner carry the day in debt-ceiling negotiations — or they will hand President Barack Obama another term on a silver platter, according to a Wall Street Journal editorial
The debate is headed toward a beat-the-clock climax, as Obama pleaded for public support for a tax increase and Boehner’s and Senate Majority Leader Harry Reid’s plans compete for attention, the Journal notes. Boehner’s two-stage proposal is the more credible of the two, the editorial opines.
“The question now is whether House Republicans are going to help Mr. Boehner achieve significant progress, or, in the name of the unachievable, hand Mr. Obama a victory,” according to the Journal.
The president is threatening to veto Boehner’s proposal for political reasons, the Journal states, adding, “The White House is afraid that it will pass the House and then become the only debt-ceiling vehicle if Mr. Reid can't get 60 votes for his own proposal in the Senate. This would short-circuit Mr. Obama's plan to blame the GOP for a U.S. credit downgrade, any market turmoil, a possible default, and the lousy economy too.”
If Boehner’s proposal stumbles in the House, Reid’s plan will have the advantage, the Journal editorial says.
“It's true that the Boehner plan doesn't solve the long-term debt problem, but Mr. Obama won't agree to anything that does,” the Journal says. “The GOP plan also may not prevent a U.S. national credit downgrade, but it has a better chance of doing so than Mr. Reid's. The Boehner plan is the most credible proposal with a chance of becoming law before the 2012 election.”
And, the Journal concludes, “If conservatives defeat the Boehner plan, they'll not only undermine their House majority. They'll go far to re-electing Mr. Obama and making the entitlement state that much harder to reform.”
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