Asked specifically about the debt ceiling on Sunday—in anticipation of a second White House visit by congressional leaders, planned for today—Biden told reporters, “Well, I’ve learned a long time ago, and you know as well as I do: It never is good to characterize a negotiation in the middle of a negotiation.”

So there you go: It’s a negotiation. Exactly what the two parties are discussing is only starting to become clear. According to various reports, a deal to avert default could include some changes to permitting rules that would speed up domestic-energy production; a revocation of unused COVID funds; additional work requirements for some federal programs (although the president has ruled out any modifications to Medicaid); and, most significant, a cap on overall federal spending. …

Crucially, Biden failed to win strong support for his strategy from House centrists. Democrats had been hoping to persuade Republicans representing swing districts to buck McCarthy and help pass a debt-ceiling increase. But those lawmakers have stuck by the speaker. Complaining about a lack of outreach from the White House, they instead criticized Biden over his refusal—until recently—to negotiate. With Republicans unwilling to budge, Democratic centrists began to lose patience with Biden’s approach and conducted their own bipartisan negotiations.

[Biden got pantsed. McCarthy surprised the White House and Chuck Schumer by getting his debt-ceiling limit hike passed with a range of spending cuts, and by doing so cut out the legs from Biden’s prepared “obstructionist” argument. Biden’s negotiating because Schumer too weak to get an unconditional ceiling hike through the Senate. They literally have no choice but to bargain on McCarthy’s terms now. — Ed]