Krugman: The President Surrenders on Debt Ceiling – NYTimes.com

The President Surrenders on Debt Ceiling – NYTimes.com

OK, can we do a couple of things for starters?
1. Lose the illusion that Obama’s got any balls, or that he’s in any way “progressive,” or that there’s much substantive institutional and policy difference between Democrats and Republicans. All the drama coming from Washington is just so much kabuki theatre.

Seriously, isn’t it time to consider the possibility that the reason he’s so quick to “compromise” with the other side, or “capitulate,” is because there isn’t really any disagreement between the two? Both Democrats and Republicans are parties of the top 1 per cent, with no real interest in advancing or protecting the interests of the rest of the population. The implications for the long-term health of the body politic should be pretty obvious. (h/t JJ)