Blowing Up the World Economy Has Been Averted…for Now
The adults have won.
Senate Democratic and Republican leaders on Wednesday reached final agreement on a deal to reopen the government and extend its borrowing authority into February, with final passage looking increasingly possible by Wednesday evening.
Senator Harry Reid of Nevada, the majority leader, and Senator Mitch McConnell of Kentucky, the Republican leader, announced completion of the agreement shortly after noon, and the Senate Republicans who had led the push to shut down the government unless President Obama’s health care law was gutted conceded defeat and promised not to delay a final vote.
The deal, with the government shutdown in its third week, yielded virtually no concessions to the Republicans, other than some minor tightening of income verifications for people obtaining subsidized insurance under the health care law.
Under the agreement, the government would be funded through Jan. 15, and the debt ceiling would be raised until Feb. 7.
Sanity is about to be imposed on Washington…at east until Jan. 15 when Ted Cruz and his band of merry teabaggers can do it all over again. This is not over. It’s only the 4th inning of a 9 inning game of Take Down Obama.
This is a sad and sickening spectacle, like nothing I’ve ever seen in my life. […]
This is the worst it’s ever been in modern America. But it is going to get worse. They aren’t going to stop hating Obama and Obamacare. They aren’t suddenly going to decide to make their peace with him or it. They sure aren’t going to decide that gee, using default as leverage is naughty. A big chunk of them want the United States to default on Obama’s watch, so they can then blame him for what they themselves caused, say, “The black guy wrecked the economy. Couldn’t you have predicted it?” New horrors await us that you and I, being normal people, can’t begin to dream up. But rest assured, they will.
Check out Tomasky’s entire piece for a good summary of what we’ve been witnessing for the last two weeks.