Krauthammer: GOP Should Raise Debt Ceiling For Six Weeks In Order To Negotiate A Grand Bargain

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CHARLES KRAUTHAMMER: When the poll came out from the Wall Street Journal at the end of last week, it was a bombshell, and they're headed for the exits now. The concessions that are supposed -- incidentally, Mitch McConnell, who is negotiating this, I'm not blaming him at all, he has been handed a hand with no cards, so whatever he is able to pull off will be a way to escape from what was a disaster. But, they don't get anything that is real.

They will get a few, the Republicans, I'm talking about, a few curlicues on Obamacare, which will have no effect on the bill itself, on the law itself. But they are giving away -- by having the continuing resolution of the funding of the government only until January 15th -- they are giving away the major achievement of this Congress. Where in the Budget Control Act of 2011, they instituted very severe and very strict cuts, which are called the sequesters, which the Congressional Research Service says is the most successful and largest cutting since the early '50s. And they are giving it away because if you were to do a resolution for the whole year -- you fund for the whole year -- you'd have the cuts of next year kicking in automatically.

What the Republicans ought to do right now is to extend the debt ceiling for six weeks, clean, exactly as Obama wants, this is what the House should do, and give a clean C.R. for a year, exactly as --

BRET BAIER: Right at Thanksgiving?

KRAUTHAMMER: You mean on the debt ceiling? You give yourself six weeks in which you can negotiate like a Ryan plan with the White House. That's your only leverage that you are going to have for anything. And on the C.R., if you give them a year on the continuing resolution, which is again what Obama had wanted in the first place, what you get are the automatic cuts next year, which is the most effective way to cut the budget.

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