Imagine for a moment that tonight President Obama steps up to the podium and says, “It’s all going to be fine, folks. We’ve averted disaster, we’ve averted an economic meltdown. Speaker John Boehner and Republicans in the House have agreed to do what Congress has done more than 70 times since John F. Kennedy was president– raise the debt ceiling. And we’re going to do it without killing Social Security and Medicare. We’re going to close tax loopholes and end tax breaks on corporate jets. ”
Even if that’s what gets said tonight – and don’t bet on it – it still wouldn’t change the fact that the economy getting saved is still in horrific shape (see above). Ending the Republican-made debt ceiling crisis just means getting back to the far more difficult task of bringing down the unemployment rate.
msnbc will have full coverage of the President’s speech at 9 PM ET followed by Speaker Boehner’s response.