Maybe Obama’s Team Needs to Be a Little More Alarming on the Debt Ceiling


Bob Somerby writes today about Sen. Rand Paul’s appearance on Meet the Press this weekend, but throws in an aside about Treasury Secretary Jack Lew’s appearance:

[Paul] followed Jack Lew, who pretty much convinced the nation that we have little to fear from a failure to raise the debt limit. We know, we know! Lew was trying to say the opposite. But what a horrible, narcotized spokesman!

It’s true that Lew took a pretty low-key approach, despite host Savannah Guthrie’s best efforts. “Are you talking catastrophe?” she asked. Lew wouldn’t bite, so then she gave him another chance. “It would be calamitous for the economy?” Still no bite! “It would be very bad,” was the worst Lew could summon up.

That’s pretty soporific, all right. The problem, I assume, is that Lew is in an impossible situation. Breaching the debt ceiling would be pretty calamitous, but Treasury secretaries have an obligation not to panic markets with loose talk. Backbench congressmen, by contrast, can say anything they think might get them a few minutes on the evening news.

It’s an asymmetrical war, and it’s not clear what the answer is. Administration officials have a fine line to walk, trying to make sure they have well and truly warned everyone about how disastrous a debt ceiling breach would be, but at the same time not sending markets into a tailspin unnecessarily. I’m not sure what the answer is, but I think Bob is right: Lew pushed the balance a little too far into yawn inducing territory yesterday. He needs to be clearer about what exactly would happen once we finally get to the day when we can’t pay our bills.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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