Who Will “Win” The Debt Fight?

Nate Silver advises "both sides in the budget debate to prioritize policy considerations":

My view … is that the electoral consequences of the budget debates are rather ambiguous. A “big deal” might tend to help Mr. Obama if economic growth is moderate, giving him another accomplishment to pitch to the public. But it could make his messaging awkward if growth is subpar, sacrificing some potential advantages stemming from the unpopularity of the Republican Congress. A major compromise on the budget also might not help Democrats if economic growth is stronger than expected, in which case their focus would turn to winning control of the Congress and would want to draw more rather than fewer contrasts.

My view is that Obama has essentially won the argument but not yet the fight. Today's ABC News poll shows that 62 percent believe we need a mixture of tax hikes and spending cuts to deal with the debt, compared with only 32 percent wanting spending cuts alone. By far the most popular specific measure for tackling the debt is ending the Bush tax cuts for those earning over $250,000 a year – with a whopping 72 percent support. Its only near rivals are more Medicare and social security means-testing for wealthy retirees. 77 percent think the GOP has been too unwilling to compromise, compared with 58 percent who say the same of Obama. If this were a boxing match in the world of ideas, it would already have been won.

But the GOP believe they can destroy the US and global economy and from the wreckage ensure Obama is not re-elected. That is their sole true guiding principle. They terrify me.