Is today the day for a debt ceiling deal?

With calls growing for Congress and the President to put aside politics, will the Washington politicians finally reach agreement on the debt ceiling controversy?

I doubt it. Look for a few more days of political theater. The deadline is still a couple weeks away, after all.

Eventually the pols will act. It’s hard for them to ignore political self-interest, but they have to do what’s best for the country, right?

Will they?


In recent days, powerful interests from across the political spectrum have begged for grownup behavior. Moody’s Investors Service put the government on notice that the national credit rating is at risk. A coalition of business organizations, including the U.S. Chamber of Commerce, Business Roundtable, National Association of Manufacturers, Financial Services Forum and the Partnership for New York City, sent a joint letter to every member of Congress and President Obama urging them to raise the debt ceiling pronto.

Sadly, there are still people like this who just don’t get it. Here’s hoping, saner heads will prevail.

Business groups’ letter.

Not raising debt ceiling like refusing to pay your credit card: Bernanke

Moody’s puts U.S. ratings on review for downgrade