McConnell Proposes Giving Obama Authority To Raise Debt Limit Alone. This will be retracted and denied and stuffed down the memory hole.
Doesn't matter though, the GOP has collapsed.
On the bright side, we will probably avoid the greatest failure of American governance since the Civil War. We may avoid turning the Lesser Depression into a Greater Depression.
On the dimmer side, the GOP will survive this. If they had forced the nation into default they might have done themselves in. We desperately need a somewhat sane party to oppose the worst tendencies of my team, we need a replacement for the GOP. Their retreat puts that day off.
Dimmer still, it appears I was right. Seven months ago I assumed that the GOP, in the end, would not risk the wrath of their corporate masters. They know the pre-demented boomers of the Tea Party will forget this affair within months, but corporate paymasters will not forgive economic ruin.
Like Jared Bernstein, I felt we were just now crossing over into panic time. I began to think emergent orporate entities were not as powerful as I'd imagined.
It seems they are.
