The POTUS on "First-Ever Default" Avoision*

... and you could call this a liveblogging.



BEST ARGUMENT = starts at 2:25. Most of the previous might have been sent out in code.

In this coming (we hope) "process" to come up with real deficit reduction, it would be fantastic if these two bipartisan study commissions (on Tax Reform and Spending Reduction) each had to come back with draft bills no later than six months from now. No, better make that four months from now. We'll need another two months at least, to amend and improve them for enactment by the (symbolically critical) deadline.

Now in terms of optics -- it might be time for President Obama to alter the tone of his voice from that which has been his favorite (placid, exasperated calm) to something else. Emoting fear and passionate resolve are two ways of convincing people you see things their way.

*-UPDATE: A compromise breaks late in evening between the President and Congressional leaders (LINK) There is a degree of apparent confusion over what it would preclude in terms of the deficit-reduction approach. **- UPDATE II: POTUS explains himself, and rallies his troops again towards a "balanced" prescription. (LINK)