NO ONE'S HAPPY, BUT IT'S GETTING DONE:  Look, bottom line, the United States cannot default on its debts, and a debt payment is due around the end of this week.  So, the Democrats and Republicans have negotiated an agreement whereby the debt ceiling will be raised, and each side gets some economic concessions to sweeten the deal.  The package has passed the House and is headed for the Senate.

Neither side is happy, especially the most conservative Republicans in the House, who believe that GOP Speaker Kevin McCarthy could have gotten more from President Biden.  Some conservatives are threatening to try to stop the agreement in the Senate, but that seems very unlikely.  No one wants to be responsible for a national debt default.

Seems to me that the Speaker did as well as could be expected.  Our side only controls the House, and only by four votes.  We don't control the Senate or the White House.  Those who complain have their marching orders – increase GOP power in next year's elections, and things will go better next time.   And we should remember Ronald Reagan's comment that if he gets 80% in a negotiation, he has a good deal.

I can understand the disappointment of conservatives.  I share some of it.  But the debt negotiations are not the hill to die on.  The debt ceiling throws a monkey wrench into serious talks about other issues.  As we used to say in Brooklyn when the Dodgers lost a World Series, "Wait 'til next year!"

May 31, 2023