Now that the Senate has tabled the cut, cap, and balance bill and hasn’t proposed anything else, Republicans ought to consider both a short-term debt ceiling deal and the McConnell plan. Of the plans currently available or possible, Charles Krauthammer favors a short-term increase of the debt ceiling for half a trillion dollars. George Will, on the other hand, thinks conservatives should back the McConnell plan to defeat President Obama in 2012, allowing for real budget reform later.
Neither suggestion is likely to please conservatives who are seeking real spending cuts in this deal, but the reality is that big cuts are probably not going to pass the Democrat-led Senate. The above-mentioned plans, however, might generate enough Democrat support to pass. Democrats would likely take a short-term deal over nothing as August 2 approaches, and the Democrat leadership seems open to the McConnell plan.
The policy battle might not be won in this round, but both sides can still inflict significant political damage to the other that could determine the policy outcome in 2013. The two options advocated by Krauthammer and Will could help the Republicans win the battle.
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