Wednesday, October 16, 2013

Apocalypse (to be) averted

We are pretty far from okay, but it beats spending the rest of your life getting raped in a dungeon, which is more or less what the House Republicans had planned. The Republican debt-ceiling gambit was meant to force Obama to accept the GOP agenda without any Republican concessions — a depressing enough outcome on its own. But it also would have dragged in a reordering of the Constitutional order and the institutionalization of endless crises and panics. We can’t be certain Republicans will never hold the debt ceiling hostage again; but Obama has now held firm twice in a row, and if he hasn’t completely crushed the Republican expectation that they can extract a ransom, he has badly damaged it. Threatening to breach the debt ceiling and failing to win a prize is costly behavior for Congress — you anger business and lose face with your supporters when you capitulate. As soon as Republicans come to believe they can’t win, they’ll stop playing. NY Mag
The House GOP folds and it's great news for everybody. What a fuckin' bunch of drama queen.

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