Given the stakes in 2012, the public perception of the outcome of these negotiations is important to both sides as campaign season arrives. This battle has been called by seasoned pundits "political theatre" and many believe that the result is inevitable - a deal will proceed before default occurs.
The question is what will it look like and who will take credit for the victory? So far the old familiar positional bargaining has taken place with well worn excuses for not giving in to compromise which will be required of both sides in the end. A looming deadline of August 2 has been placed before the parties as a motivator, though some have questioned whether that is even a drop dead date.
Will there be an element of the negotiation that provides a silver bullet-like end to the stalemate and summons the political will of those involved to make a deal? At this point, The White House has exhausted its influence without imprimatur and it appears there is no real facilitator present to help the Congress reach a decision.
See latest headlines - http://www.nytimes.com/2011/07/18/us/politics/18debt.html?hp
