Keith Hennessey thinks that President Obama is bluffing on his veto threat.
President Obama’s veto threat decision is not just about fiscal policy, and it’s not just about who gets blamed for a legislative failure. It’s about whether the President wants to cause a recession in 2013 and hamstring his second term. No matter what he or his advisors say, he cannot afford to take that risk.
It’s a good argument, but it has one small problem: it assumes that President Obama is capable of making a rational risk analysis in this matter, or indeed in any other. Judging from his tenure thus far, President Obama does not have a good handle on judging when other people are or are not serious about their policy positions. So, yes, Barack Obama may indeed veto the eventual deal and thus start a recession. Confidently. Heedlessly. With both eyes open.
:shrug: If that’s how it’s going to go down…