The one unmistakable conclusion that can be drawn from Monday's dueling press statements on the debt limit battle is that President Barack Obama is losing the argument for endless deficit spending. But a second conclusion is equally important. House Speaker John Boehner, whom Obama accused of trying to sell out the fiscally responsible Tea Party faction of his Republican party, is losing as well.
President Obama bemoaned in his July 25 address to the nation that "a significant number of Republicans in Congress are insisting on a different approach — a cuts-only approach." That was a clear reference to the Tea Party movement. And because the U.S. Constitution allows the House to stop any legislation, Obama's only remaining strategy is to appeal to the American people. "So I’m asking you all to make your voice heard. If you want a balanced approach to reducing the deficit, let your member of Congress know. If you believe we can solve this problem through compromise, send that message."
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Photo of President Obama addressing nation on debt-limit debate: AP Images