Who has the whip hand?

I have read several commentators on the election express the sentiment that President Obama now has the whip hand. One commentator wrote that Mr Obama’s position was “strengthened by his reelection.” Now that is about the most stupid statement I have ever heard. Yeah, Obama would have been considerably weakened if he had lost.

At any rate, the question remains: Which party now is in the position of advantage and control? My opinion is that the Republicans are in a relatively strong position for one reason: we are closing in once again on the debt ceiling. Any increase in the debt ceiling must pass through the Republican controlled House. If the debt ceiling is not increased, financial chaos will ensue, possibly plunging us back into another recession. Presumably, President Obama will want to avoid that scenario.

It’s time for hardball, Republicans. All you need to do is channel your inner Angela Merkel and just say no. That is, no unless you get substantive reform in return. The argument is easy to make: By continually increasing the debt ceiling without reducing spending and the size of government or reforming entitlements, we are careening towards financial Armageddon anyways. Every well-run business recognizes that there are certain times when there is too much debt on the balance sheet and the level of debt must be reduced. To do anything else is simply to act irresponsibly. Yes, there will be pain associated with reducing this debt, but anyone who tells you this pain is avoidable after so many years of deficit spending is simply lying to you. We cannot delay any longer. The fiscal mess we find ourselves in is enormous and must be addressed now. Presumably, one of the reasons President Obama was reelected was to put our fiscal house in order, not to continue to kick the can down the road to the point where financial catastrophe (a la Greece) is the only possible outcome. It is time for Mr Obama to step forward as a responsible, mature, and capable leader and fix the financial problems that face us. If he cannot, then, probably Bill Clinton's assessment of him as an "amateur" should be accepted as true after all.

In sum, Republicans, you have substantial leverage and a powerful argument to back it up. It's time to use the whip.