Another debt ceiling crisis looms. Everything depends on Speaker-to-be Ryan’s willingness to invoke the Boehner Rule and rely on Democratic votes to get it done. I’m hoping this time will be less stressful, however, for the following reasons:
- Seen it, done it, been there.
- The election is now slightly over a year away. Debt ceiling crises hurt the GOP brand with centrist voters and cost their PBP constituents lots of money. Surely even the nihilists can hold off for a year in light of the big picture.
- The GOP candidates for President are all proposing enormous tax cuts that will blow up the deficit and require massive debt ceiling increases. We know that most of the Republican white noise on the deficit is just hypocrisy and opportunism, but it is going to be awkward for the Reactionaries to bang on about the deficit in 2015 and then completely disregard it when the Rubio or Cruz Administration asks for a debt ceiling increase in 2017.