Failing To Respect The Third Rail
Setting aside the policy implications of Chained CPI, what the President and his men have discovered today is that there is still a lot of juice in the Third Rail. There are protests against characterizations of President Obama's budget proposal as a "fumble." The protest is 'these are smart people. They know what they are doing." I think this misunderstands the "fumble" description.
I'm not someone who thinks President Obama made this proposal knowing it would be rejected out of hand. I think he thought he could get to a Grand Bargain from this proposal, picking up a little support from the GOP and a lot of support from The Media and these combined would let him muscle this through the Democratic caucuses.
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