The punch line of an old joke aptly describes the status of budget negotiations in Washington: you can’t get there from here. It’s not the “there” that is the problem; it’s the “here.”
Broad bipartisan consensus exists on two points. The first is that the debt limit must soon be raised to avoid a default in one form or another. The second is that current fiscal policy cannot be sustained. Missing from the equation is any solid evidence that political leaders are prepared to do what is necessary to solve either problem.
Republicans have chained themselves to a rigid negotiating position, insisting that there can be no tax increase regardless of the need or on whom the burden would fall. They argue that even a deficit reduction plan heavily tilted toward spending cuts, such as the framework recommended by the President’s bipartisan fiscal commission (Bowles-Simpson), must be rejected outright.
Democrats say they are more reasonable because they believe that everything -- spending cuts and tax increases -- should be “on the table.” However, they have unanimously rejected four budget plans in the Senate, including the President’s official budget, without proposing anything of their own. They are clearly content to let the House Republican budget twist slowly in the wind while maintaining the safety of silence...