Democrats apparently are poised to give House Republicans much of what they have demanded with the exception a linkage between a second Debt Limit Vote to spending reduction targets. Under this compromise only a 2/3 vote would trigger a second Debt Limit vote within a matter of months.
Politico reports:
Debt deal compromise suggested by Democrats
By CARRIE BUDOFF BROWN | 7/28/11 6:00 PM EDT
Democrats are aiming for a debt-limit compromise similar to the House Republican plan, with at least one major difference: The second vote on raising the debt ceiling would not depend on Congress passing a broader deficit-reduction package.
Under the possible compromise, Congress could still get a second crack at voting on the debt limit within months. But rather than linking the vote to Congress approving the recommendations of a new 12-member committee — as it would be in Boehner’s bill — Democrats prefer McConnell’s proposal that allows President Barack Obama to lift the debt ceiling unless two-thirds of both chambers override his veto of a disapproval resolution, the officials said.
To force action on a deficit reduction package, the White House would agree to strengthen the mechanism that compels Congress to pass the special committee’s recommendations, the officials said. The officials would not detail proposals for a so-called trigger that acts as an incentive for both parties to bargain in good faith and reach agreement.
The Democratic officials argued that the competing debt-limit plans are not markedly different, and a deal can be reached unless House Republicans refuse to consider alternatives to the Boehner bill.
It looks to me like the Democrats are abdicating their duty to represent their constituents' best interests over the long term to mollify some radical Republicans in order to keep them from putting the nation's economy into deeper jeopardy than they already have.