The brilliantly stupid new plan to raise the debt ceiling without raising it

The big debt ceiling question over the last year has been whether the Republican Party’s grown-ups, who understand that “not raising the debt ceiling” is a horrible idea, would be able to convince the nuts, who believe — and they believe this because the “grown-ups” spent the last year recklessly dissembling on the function and purpose of the debt ceiling in order to score political points against Barack Obama — that not raising the debt ceiling would be no big deal and possibly even beneficial to the American economy, because it would force us to take “tough medicine.” It looked for all the world like the elite were losing the argument. The disorganized and hilarious coup against John Boehner was proof that a significant chunk of the House majority wasn’t going to listen to reason. Boehner’s subsequent passage of legislation with a minority of Republican votes — a violation of “The Hastert Rule” — seemed to indicate that the only way forward was bypassing the nuts entirely.Continue Reading…

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The brilliantly stupid new plan to raise the debt ceiling without raising it

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