Are the Republican leadership in hock to their crazies, both on the Hill and in their base, to such an extent that they’ll point-blank refuse to raise the debt ceiling if they don’t get their way and see major spending cuts alongside the rise?
Greg Sargent says they aren’t and says Democrats should bet…well, the economy…on it.
Jonathan Bernstein isn’t so sure and argues that even if they are bluffing it makes more sense to have strategies in line – “the responsible thing to do is to attempt to minimize the consequences, not embrace them”.
Interestingly, Sargent’s view seems to be the accepted wisdom among beltway insider left-leaning pundits while Bernstein’s seems more in line with the bulk of commentators outside the D.C. bubble.
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