With Cantor and Kyl's exit from the Biden's panel, successful negotiations depend on President Obama's talks with the Speaker of the House
The decision by GOP leaders involved in the deficit-cutting talks led by Vice President Joe Biden to bolt from the negotiations may have seemed abrupt, but the move, in fact, now brings greater clarity to the effort and puts the responsibility for a successful outcome squarely on the shoulders of President Obama and House Speaker John Boehner, (R-Ohio).
Pawlenty Runs from Past on Environmental Policy
The Fiscal Foothill
Washington Losing Patience With Counterinsurgency in Afghanistan
House Majority Leader Eric Cantor, (R-Va.), and Senate Minority Whip Jon Kyl, (R-Ariz.), announced that they were quitting the talks on Thursday and blamed their exits on an impasse over tax hikes, but Cantor's and Kyl's departures--ushering in the likely demise of the Biden-led panel--should not have been that surprising. The Biden panel may have exhausted its usefulness, making way for the next stage of negotiations involving the president.
As far back as June 1, Boehner was already expressing some anxiety over the slow pace of the panel's progress, emphasizing that a deal was needed during the next month, and that Obama needed to become more engaged.
With the clock ticking down to August 2, the deadline by which the Treasury Department says Congress must increase its $14.3 trillion debt ceiling or risk defaulting on its obligations, Boehner had said there was no reason to bump up against that deadline.