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View Diary: Senate votes on shutdown/debt ceiling deal (254 comments)

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  •  If I'm reading it correctly (1+ / 0-)
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    It lets the prez waive the debt limit right now until 7-Feb.  At that time it will be recalculated based on obligations owed now and up to that point, and Lew can then do what he can to prevent default based on that new calculation, which presumably will exactly equal wherever we're at then.

    So no spike in costs between now and 7-Feb can make it come up early I guess, and Lew can do his extraordinary measures on 7-Feb to buy some more time.  This means if we do have another debt ceiling debacle it's going to happen right smack in the middle of the campaign season for 2014, assuming Lew can keep the govt open about as long as he did this year.  I can't imagine that's an accident.

    Structuring it this way lets the Rs get in a symbolic vote, without taking any actual risk of default, and tar Obama (who could probably care less at this point, it can't possibly hurt him with debt ceiling deniers as they already hate him and might be seen as a positive anyway by the reality based population) with "raising the debt limit".

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