Even Mother Jones blogger Kevin Drum, who's been stuck to the 11th-dimensional chess theory for too long, is starting to suspect that much of the current deficit-cutting frenzy is by Obama's design:

Matt Yglesias points out that last December, when Democrats cut a deficit-busting deal with Republicans to cut taxes and increase stimulus spending, would have been a perfect time to raise the debt ceiling. But:

It didn’t happen. Obama said he trusted John Boehner. Harry Reid said he didn’t want the debt limit to be raised by the 111th Congress because he wanted to force the incoming 112th Congress to take ownership over it. The results of these decisions have been a disaster.

What’s more, not only was the disaster predictable but even once it was visibly on the horizon, the White House bungled it. There was a brief opportunity for the President to dig in his heels and simply refuse to compromise. Then the debate rapidly would have become “can John Boehner round up the votes in his caucus necessary to avoid a default.” Instead, the White House conceded the unprecedented point that even though Boehner and Obama agreed about the desirability of raising the debt ceiling that the White House should make concessions to the Speaker in order to obtain it. Consequently, you get what we have here this week.

For what it's worth, I continue to think that this probably wasn't a bungle. More likely, during his first two years in office Obama had gotten enough deficit religion from the likes of Peter Orszag and Tim Geithner that he actually welcomed the opportunity to put in place some long-term spending cuts. He couldn't very well admit that publicly, of course, since his base would go bananas, so instead he punted on the debt ceiling, knowing that Republicans would then use it to "force" spending concessions out of him. Mission accomplished: long-term spending is reduced, and Republicans get all the blame. Democrats mostly forgive him because everyone knows Republicans are crazy, and as a bonus, Republicans don't even get much of a boost from their own base out of this since any real-world spending cut won't come close to the demands of the tea party crowd.

How sure am I of this? Not very. Maybe 60%. But think of it this way: the kind of negotiating position Matt is talking about isn't rocket science. It's not even Negotiation 101. It's more like the fifth grade version. There's just no way that Obama and Reid and the rest of the Democratic brain trust were literally so stupid that they didn't understand this. A far more parsimonious explanation is that this is roughly what Obama wanted. He wanted spending cuts, but he wanted Republicans to be the ones to take the lead. And that's what happened.Bottom line: I don't think we should try to figure out what Obama "really" thinks about stimulus spending vs. deficit reduction. His actions suggest that he wants long-term spending cuts. Like it or not, that's the real Obama.

Yep. Look what Obama said back in December:

Q Just in the sense that they’ll say essentially we’re not going to raise the -- we’re not going to agree to it unless the White House is able to or willing to agree to significant spending cuts across the board that probably go deeper and further than what you’re willing to do. I mean, what leverage would you have --

THE PRESIDENT: Look, here’s my expectation -- and I’ll take John Boehner at his word -- that nobody, Democrat or Republican, is willing to see the full faith and credit of the United States government collapse, that that would not be a good thing to happen. And so I think that there will be significant discussions about the debt limit vote. That’s something that nobody ever likes to vote on. But once John Boehner is sworn in as Speaker, then he’s going to have responsibilities to govern. You can’t just stand on the sidelines and be a bomb thrower.

And so my expectation is, is that we will have tough negotiations around the budget, but that ultimately we can arrive at a position that is keeping the government open, keeping Social Security checks going out, keeping veterans services being provided, but at the same time is prudent when it comes to taxpayer dollars.

As Digby said all along, we're cutting spending because Obama wants to cut spending. Period.