"A God-awful mess that wasn't supposed to get this bad." That's how the Editor-in-Chief of Yahoo! Politics, Jane Sasseen characterizes the on-again, off-again, going nowhere debt talks in Washington.
With only a week to go before the man-made deadline on the self-made crisis expires, she and other beltway observers say they are no closer today than a month ago, but still think a last minute compromise will be reached.
"Nobody knows how they can get out of it because they are so far apart," she says and points to the partisan presentations on national TV by President Obama and House Speaker John Boehner as proof.
She, like the rest of us, will sit back and wait and wonder if the elected leaders of this country will actually drive the train over the cliff or not. One thing she is certain about is that "no matter what happens the economy is going to get hit by this."
Sasseen is also keenly interested in the delicate dance that's playing out between the President and his big-money backers on Wall Street. She says "Wall Street supported Obama massively last election and they've shifted back somewhat. It's interesting because Obama is going back trying to fundraise again and they're not so happy with him anymore." But he needs and wants the money.Read More »from Debt Deadlock Hurts President Obama’s Street Cred