Having acceded once, and disastrously, to the demands of a rump group of tea-party-affiliated
Yet it's hard to take much relief from the latest developments. The House Republicans' plan wouldn't end the partial
Senate Republicans, meanwhile, are developing a proposal to end the government shutdown in exchange for a few less-controversial changes to the healthcare law. But like Boehner's plan, their offer would raise the debt limit only temporarily, setting the stage for them to threaten the government's credit again in a few weeks to force more concessions.
The GOP's supporters say there's nothing novel about bargaining over an increase in the debt ceiling. But this time, influential Republicans in both chambers contend there's nothing to fear about the Treasury running short of cash; it would still have enough revenue to make its debt payments. That's mind-bogglingly Panglossian. As numerous business leaders, economists and financiers have warned, there would be real financial consequences if