I seriously cannot believe I am again writing a post with one eye on the wire, still waiting for a conclusion to the debt-ceiling debacle, looking for real news to read, instead of just thrice re-boiled tea leaves. But here I am—here we are—sweating out a crisis that is as malicious as it is manufactured, knowing that when a “resolution” comes, no matter which version/option/compromise we get, it will be both terrible and impermanent.

That’s not easy to think about, but it is quite easy to say. There are no smart options on the table. There are not even smart planks left to use as bargaining chips. America, with its economy gasping for air, is left having to choose from a trio of plans that are all (as best as we are allowed to glimpse them) comprised of draconian cuts to so-called discretionary spending, no serious attempts at increases in revenue, and seismic blows to the bedrock programs of our social safety net—and none of which do a single, solitary thing to stimulate job creation. The only resemblance to a life preserver here is that all the plans look like a big, fat zero.

That the federal budget deficit is not even our real problem is a message completely absent from the national “debate.” That there is a difference between the debt ceiling and the deficit has been lazily obscured or purposefully ignored. And, again, the interests and desires of vast majorities of the American people—that jobs are more important than deficits, that a higher percentage of taxes should be paid by the very wealthy, and that the military should be cut before Social Security and Medicare—are marginalized as “extreme,” “not serious,” “unreasonable,” or (horror of horrors) “not adult.”

And who is out in front of this march to mindless mayhem? Believe it or not, as flawed and feckless as Congressional leaders seem, as uncompromising or unhinged as TEA Party sympathizers (T-simps?) appear, the guy that must bear the lion’s share of blame is the one with the bully pulpit.

When President Barack Obama took to the primetime air on Monday, many a Beltway pundit huzzah-ed the appearance of “the educator-in-chief.” We were told that the president went over the heads of the Washington elite to explain the complexities of the debt-ceiling debate to the people. We were told that Obama’s continued “eat your peas” tone was just the sort of talking-to that the unruly brood in the people’s house (you know, the House) needed to hear. And we were told that when the president asked folks to call Congress and say they expected compromise, he had scored a political victory (even as some poopooed his “politicizing” the moment).

And no doubt the president believed his own press, for as the week draws to an end and we are no closer to any kind of meaningful arrangement (good, bad, really bad or otherwise) to raise the debt ceiling, there is nothing new coming out of 1600 Pennsylvania Avenue.

Well, this might come as a bit of a news flash to President Obama (not to mention the DC press corps), but being “reasonable,” or “unflappable,” or even behaving as the “adult” is not the same thing as being a leader.

Former Labor Secretary Robert Reich noticed this “abject failure” on Wednesday, calling Obama “seemingly without a compass. . . an inside-the-Beltway deal-maker who does not explain his compromises in light of larger goals.”

Perhaps this is because the president has no larger goals. It has often seemed that, to Obama, compromise—like “bipartisanship”—is goal enough, an end rather than just a means to an end. Perhaps, as Reich puts it, it is more important to the president that he be “seen as a reasonable adult rather than a fighter.” Or perhaps the larger goals are so singularly unpalatable that he dare not explain them. It is bad enough that the White House is stripping Democrats of a solid campaign issue by joining the GOP in its pursuit of cuts to Social Security and Medicare, if the president had to call such cuts a “goal,” as opposed to a “compromise,” his own re-election might be in peril (or even more in peril).

But the “why” is not as important as the “what”—and what is going on is deplorable, in both practical and political terms. As Reich notes:

[Obama] is well aware that the Great Recession wiped out $7.8 trillion of home value, crushing the nest eggs and eliminating the collateral that had allowed the middle class to keep spending despite declining wages—a decrease in consumption that is directly responsible for the anemic recovery. But he doesn’t explain this to the American people or attempt to mobilize them around a vision of what should be done.

Instead, even as unemployment rises to 9.2 percent and at least 14 million people look for work, he joins the GOP in making a fetish of reducing the budget deficit over the next decade and enters into a hair-raising game of chicken with House Republicans over whether the debt ceiling will be raised. Never once does he tell the public why reducing the deficit has become his No. 1 economic priority. Americans can only conclude that the Republicans must be correct—that diminishing the deficit will somehow revive economic growth and restore jobs.

Instead of powerful explanations, we get the type of bromides that issue from any White House. America must “win the future,” Obama says, by which he means making public investments in infrastructure, education, and research and development. But then he submits a budget proposal that would cut nondefense discretionary spending (of which these investments constitute more than half) to its lowest level as a share of gross domestic product in over half a century.

Reich is kind in phrasing this as a situation into which Obama has “allowed himself to be trapped,” but I fear he is being too politic. Two-and-a-half years removed from inauguration day, the president has enough of a track record to deserve the label of “active participant” in the trapping.

When the will and wisdom of the electorate has threatened to interrupt what we used to think of as a Republican narrative of “austerity for the many and rewards for the few,” it is President Obama that has time and again jumped in to shore up and shape his theoretical opponents’ frame. It was the new president that negotiated with himself a too-small stimulus and then over-promised what it would do. It was the White House that hamstrung healthcare reform with secret deals, an artificial maximum price tag, and long delays for the start of most programs, and then forced Democrats in Congress to embrace it and defend it straight through disastrous midterm elections. It was Obama that created the Catfood Commission when Congress itself failed to appease the deficit peacocks—and it was Obama that stacked the commission with members predisposed to disemboweling the social safety net. It was the president that forced his caucus to embrace his December budget deal that extended Bush-era tax cuts for the wealthy and slashed the estate tax—two major factors in our current budget shortfall. And it is Obama that continues Bush’s wars of choice—justifying them with Bush’s climate of fear—another giant drain on federal coffers.

And it is Obama now, throughout the months that this debt-ceiling circus has continued to send in the clowns (along with high-wire acts and performing seals), who has served as ringmaster.

Obama, as I have described in the past, could have argued that we have more than enough borrowing capacity, and that, with interest rates so very low, now is the time to strengthen our economy by creating jobs, expanding our safety net, and stimulating demand. He could have used this crisis to build on the New Deal, to improve his flawed healthcare law, or to help power the next great engine of American economic expansion (by perhaps giving a Kennedy-esque “moon landing” speech declaring we will replace carbon and nuclear fuels with renewables by a date certain, and then funding R&D)—and he certainly could have used all of this to draw a sharp contrast between Democrats and Republicans. But instead, the president has embraced the austerity meme, argued only for “compromise,” and has turned the entire debate into a contest over whose plan has more cuts. Obama has failed to explain to anyone how compromise, in-and-of itself, will help create a job or put food on the table, but he has succeeded in enhancing a dangerous and growing cynicism among voters well on their way to dropping out of the political process to devote more time to just making ends meet.

It might not be hard to “mobilize” people around a tactic—Congressional phone lines were jammed the day after Obama’s call to call—but a week (or two?) later, when government services have been sacrificed in the name of saving the country’s bond rating, will any of this telephone army feel like they won the fight?

It’s hard to imagine they will—certainly not the next time unemployment numbers come out, or a bridge falls down, or their kids are forced into a more crowded classroom. It is those real-life “lessons” that will do the teaching absent any true leadership from the “educator-in-chief.”