The Republicans wisely came to terms today, declared victory and will keep their powder dry for the debt-ceiling fight. They would have been very foolish to shut things down with the current narrative. I'm impressed with Boehner's stewardship of his caucus - I thought a shut-down might be unavoidable as many of his Tea Party freshman have relished the prospect. Pragmatism prevailed.
The debt-ceiling fight could be the Big One. Hopefully, both parties will use the next month to find common ground to raise the ceiling and outline the 2012 budget. With the bipartisan Debt Commission recommendations right there on the shelf, it won’t be too hard to find solutions if that is the genuine objective.