Jonathan Chait at New York says you can stop worrying about the debt limit crisis
"The events of yesterday amounted to utter success. The debt ceiling will be lifted, the crisis is over, and so, too, may be the larger Constitutional struggle it unleashed," Chait explains. But (in a nod to Pulp Fiction) Chait concedes, "we are pretty far from okay." Still, if Obama "hasn’t completely crushed the Republican expectation that they can extract a ransom, he has badly damaged it." Bottom line? "Ted Cruz and his minions may have undertaken a hopeless crusade, but they dragged along the Paul Ryan Republicans who all along seemed to think their extortion scheme was a simple business deal. Its collapse is one of the brightest days Washington has seen in a grim era." Josh Barro, the politics editor at Business Insider, tweets, "Chait is right: There's no debt ceiling crisis any more, it's all over except the voting."
Full article:
http://nymag.com/daily/intelligencer/2013/10/stop-fretting-the-debt-ceiling-crisis-is-over.html
