If you are following the debt ceiling talks (and really, who isn’t?) you might get the impression that things are at a complete stalemate. Republican leaders continue to insist that entitlement cuts are necessary for a deal to be made and Democratic leaders are equally insistent that they will not agree to significant Social Security or Medicare cuts. Similarly, Democratic leaders believe that tax revenue increases must be part of any deal but Republicans argue they will not agree to any tax increases. Despite these seemingly contradictory stances, word from DC is that these talks are proceeding nicely and a final deal is slowly taking shape. How is this possible?

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