Paul Krugman: Capitulation, Not Compromise, Led to a Debt Deal

What would I have done?

That’s the question President Obama’s kinda-sorta defenders keep asking; it’s supposed to be a conversation-stopper.

But the answer is clear: I would have made a statement declaring that giving in to this kind of blackmail would constitute a violation of my oath of office, and that my lawyers, on careful reflection, have determined that there are several legal options that allow me to ignore this extortionate demand.

Now, the Obama people say that this wasn’t actually an option.

Well, I hate to say this, but I don’t believe them.