(H/T Ace)
Depends on who you ask.
Via HotAir.com:
After weeks of insisting it won’t negotiate on either the budget or the debt ceiling, a top White House adviser said this morning that Barack Obama would sign a short-term lift in the latter to gain more time for a longer-term agreement.
Via WaPo:
President Obama would accept a short-term increase in the federal borrowing cap , rather than one lasting a year or more, a senior White House official said Monday. The statement was an acknowledgment by the administration that it may not be possible to reach a deal on a long-term increase in the debt ceiling before a critical Oct. 17 deadline.
Gene Sperling, director of the National Economic Council, said members of Congress ultimately have the responsibility to decide how often they want to raise the debt ceiling, although he argued that an extended hike is preferable. …
The Treasury says it will run low on cash in as little as 10 days, placing the nation at risk of a historic default. Some Republicans have suggested that if Congress can’t reach an agreement by Oct. 17, they might try to forge a coalition to support an interim measure to increase the $16.7 trillion debt ceiling for as little as six weeks.
Sperling’s comments Monday suggested that the White House would accept such a measure. The statement was notable because administration officials had rejected a short-term debt ceiling increase during a similar impasse in the summer of 2011, when the White House insisted that the debt limit be increased to cover borrowing through 2012.
Boehner is staying on message. Check out this video via CNN, and notice how they attempt to make the Republicans look like the bad guys?:
National Journal explains why Obama and the democrats have to work with the Republicans:
Obama has at least two incentives to talk. First, there is the matter of optics. Voters want to believe that their leaders are open-minded, a trait they particularly expect in a president who promised to change the culture of Washington. Obama simply undermines his credibility by stiff-arming the GOP. Their obstinacy is no excuse for his. During the last protracted government shutdown, President Clinton talked almost every day with GOP rivals Newt Gingrich and Bob Dole.
Second, Obama has an opportunity to deftly steer an embattled and divided GOP away from Obamacare and to an issue worthy of high-stakes negotiations: The nation’s long-term budget crisis. While it’s true that the deficit has dropped in recent months, nothing has been done to secure Social Security and Medicare beyond the next 10 years. Punting this red-ink quandary to the next president would mar Obama’s legacy.
In April, I wrote that both the White House and the GOP House had incentive to strike a deal that would both raise taxes and trim entitlement spending. The story traced the outlines of such a deal, but the moment was lost. Boehner doesn’t trust Obama and is worried about a revolt from his no-compromise caucus. Obama doesn’t trust Boehner and is worried about a revolt from his no-compromise caucus. The House speaker reportedly raised the idea of a so-called grand bargain at a White House meeting last week, and got laughed at. That is the exact wrong response.
So, we’ll see. Hopefully this shut down ends quickly. As I am sure these people; like my friend John —- would like to get back to work. I say this because of this right here: I am all for political principles. However, stopping Government for the sole purpose of furthering those principles is just unacceptable in the real world. James Antle has it correct; Republicans need to play the long game, and not this sort of stupidity. It is only hurting people that have nothing to do with the political process.
There is a fine line between political principles and blatant idiocy; wise is the man that knows the difference between the two.