That’s what Noah Pransky suggests on his blog, Shadow of the Stadium: Similarly to how the Rays’ failed waterfront stadium deal went down, officials in Tampa are trying to wipe the egg off their face after agreeing to hand over $1+ million in incentives to a large mystery company “considering” a move out of town. [...]

Ezra Klein proclaims that the Democrats are going to lose this one. The first stage of the emerging deal doesn’t include revenue, doesn’t include stimulus, and lets Republicans pocket a trillion dollars or more in cuts without offering anything to Democrats in return. The second stage convenes a congressional “Supercommittee” to recommend up to $2 trillion in [...]

Joy Reid writes about what would a “win” look like for each of the parties in the debt ceiling debate? President Obama: For the president, a “win” in this crisis would be getting it behind him, period, at this point; particularly a deal that puts off the next debt limit increase until after the 2012 [...]

Setting aside all the possible credit-related issues, what happens to the economy if the federal government suddenly needs to slash spending because it can’t borrow any money? Well, as Michael Ettlinger and Michael Linden note (via Matt Yglesias), it would be the biggest shock to overall national spending ever:

Looking at the details of Friday’s report from the Bureau of Economic Analysis largely reinforces what we already knew about the state of the economy, writes Matt Cameron. Namely, exports are on the rise and the federal government is holding steady in part because national defense is a relatively recession-proof industry. The big losers, meanwhile, [...]

Via: The Washington Monthly

Ezra Klein notes how compromise itself is anathema to the current GOP. Their base simply doesn’t believe in it.