Barack Obama’s speech Monday night about the debt ceiling will help him politically by painting the Republican opposition as heartless and intransigent and his own approach—to use the word of the night—as “balanced.” …But, in drawing this line with the Republicans, and, in framing the choice the country needs to make, Obama embraced the same Republican economic assumptions about debts and deficits that got Herbert Hoover in trouble after the 1929 stock market crash.

John B. Judis, “The Dangerous Flaw In Obama’s Debt Ceiling Speech”