The president, it is true, did not lose the fight because he lost the argument. He lost becausehe was not willing to be as reckless as the Republicans. Increasing the debt ceiling is aroutine operation that allows the government to pay the bills Congress has already run up. Byrefusing to raise it unless they got their spending cuts, the Republicans in effect pointed apistol at the economy and threatened to pull the trigger if they were denied. An alarmingnumber of them sounded crazy enough to carry out this threat. Faced with the danger of adefault, Mr Obama and his party had little choice but to surrender. And at least the terms ofsurrender include the creation of a new joint congressional committee that might, in theory,include tax increases as well as spending cuts when it produces the next slice of deficitreduction.

　　诚然，总统输掉了这场战争，但是这并不是因为他输了这场辩论。他输是因为他不愿意像共和人那样不负责任。提高债务上限是一次很寻常的操作，从而让政府支付国会已经累积的账单。除非削减开支，否则共和党人拒绝提高债务上限，实际上他们这是举着枪对准了经济，如果他们被拒绝，他们就要扣动扳机。大量共和党人似乎疯狂十足，真的这样做了，令人担忧。面对违约的危险，奥巴马先生及其所属党派别无选择，只能投降。不过投降的条件至少包括了成立新的联合国会委员会，在理论上，这可能包括在该委员会发布下一份赤字削减计划的时候，在削减开支的同时增加税收。

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