Debt Talks Turn Dire as Obama Gets Tough, Business Leaders Beg for Deal - The Daily Beast: "A week ago, political leaders were on a glide path to a $4 trillion deal that would have slain sacred cows in both parties and set the nation on a sustainable fiscal path for the first time since two wars, two rounds of tax cuts, and an unpaid prescription-drug plan blew through the budget surplus left from the 1990s. Then House Speaker John Boehner got the vapors, pulled back from the negotiations, and the unthinkable became the faintly possible: that Tea Party purists would prevail and there might not be a deal in time to meet the August 2 deadline to avoid defaulting on the nation’s debt." As I have suggested the final deal will be somewhere in the middle between 2 and 4 trillion. Obama will lean on Boehner. He will offer some means of saving face. We will get through this.