"In fact, I think - our view of this is that while the agreement, the compromise did not achieve the kind of super-sized deficit reduction that we sought, it did end the uncertainty around the perception, the possibility that the United States might default on its obligations for its first time. That was a good thing"
About this Quote
He’s selling a seatbelt as a victory lap. Jay Carney’s line is classic crisis-management rhetoric: concede the flashy goal (a “super-sized” deficit deal) while insisting the quieter achievement matters more. The sentence is engineered to lower expectations without admitting failure. “In fact, I think” and “our view of this” build a cushion of subjectivity, as if the outcome is a reasonable interpretation rather than the product of political constraint.
The real work happens in the foggy phrasing. “End the uncertainty around the perception, the possibility” is a thicket of abstractions designed to keep the word “default” at arm’s length. That layering signals how radioactive the idea was during the debt-ceiling fights: the administration can’t normalize default as a bargaining chip, but it also can’t sound panicked. So Carney frames the win as psychological and reputational, not material. The U.S. didn’t just avoid default; it avoided the fear that it might default. That’s a subtle admission that markets and allies were watching not only America’s balance sheet, but America’s political sanity.
Contextually, this is the post-2011 debt-ceiling era, when the spectacle of brinkmanship became its own form of policy. Carney’s intent is to credit the White House with restoring baseline governance: paying bills, honoring obligations, keeping the full faith and credit from becoming a hostage. The subtext is blunt: the compromise wasn’t ambitious, but it stopped the bleeding. “That was a good thing” lands like a forced exhale - relief, not triumph.
The real work happens in the foggy phrasing. “End the uncertainty around the perception, the possibility” is a thicket of abstractions designed to keep the word “default” at arm’s length. That layering signals how radioactive the idea was during the debt-ceiling fights: the administration can’t normalize default as a bargaining chip, but it also can’t sound panicked. So Carney frames the win as psychological and reputational, not material. The U.S. didn’t just avoid default; it avoided the fear that it might default. That’s a subtle admission that markets and allies were watching not only America’s balance sheet, but America’s political sanity.
Contextually, this is the post-2011 debt-ceiling era, when the spectacle of brinkmanship became its own form of policy. Carney’s intent is to credit the White House with restoring baseline governance: paying bills, honoring obligations, keeping the full faith and credit from becoming a hostage. The subtext is blunt: the compromise wasn’t ambitious, but it stopped the bleeding. “That was a good thing” lands like a forced exhale - relief, not triumph.
Quote Details
| Topic | Money |
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