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I’ve said almost all I needed to about the “cliff” deal, but I think this also ought to be mentioned:

The problem isn’t that $250,000 is sacrosanct, the problem is a timing mismatch between what Democrats are asking for and what Republicans are asking for. The GOP is asking for a permanent change in the tax code. That’s very different from the 2010 lame duck deal where lots of people felt Obama got rolled, but in fact he preserved tons of leverage by making none of the Bush tax cuts permanent. In exchange, Republicans seem to be talking about giving Democrats temporary concessions in terms of Unemployment Insurance, sequester, doc fix, etc. That temporary mismatch is a bad deal.

To put it in other words, in one year, almost everything Democrats got in this deal will be a memory. In one year, everything Republicans got from it will be law. To be fair, if Obama really does stand his ground on the debt ceiling and the economy is growing at 4% by the end of the year, I will reconsider.

Also, lest we forget, the debt ceiling has already been treated as a negotiating chip in this round of dealmaking and it will continue to be. I really wonder how Biden was able to convince Democrats that Obama would stand firm on the matter, you’re really going against Ockham’s Razor with any argument you could possibly make there.

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