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Obama Owns the Economy, But Can He Own Deficit Reduction, Too?

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The President returned to the bully pulpit yesterday to take on a familiar role: mediator in chief. A week after comparing congressional Republicans to schoolchildren who were more interested in protecting corporate jet owners than needy Americans, the President invited congressional leaders to the White House on Thursday for another round of debt ceiling negotiations saying, “It’s my hope that everybody’s going to leave their ultimatums at the door, that we’ll all leave our political rhetoric at the door.”

Of course, there's little indication that either side is willing to undraw their lines in the sand. But, with the Aug. 2 deadline looming, something and someone is going to have to give.

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