It appears enough of the Congressional Republicans realized the debt limit is not a point of leverage over President Obama so their best option is to just quickly raised it. We will likely get a clean increase with relatively little drama. From Politico:
The most senior figures in the House Republican Conference are privately acknowledging that they will almost certainly have to pass what’s called a clean debt ceiling increase in the next few months, abandoning the central fight that has defined their three-year majority.
The reason for the shift in dynamics in this fight is clear. Congress has raised the debt limit twice in a row without drastic policy concessions from President Barack Obama and Senate Democrats, essentially ceding ground to Democrats. Obama and Senate Majority Leader Harry Reid (D-Nev.) are again ruling out negotiations over the nation’s borrowing limit, which would leave Republicans fighting against a unified Democratic front. It’s a tricky situation for the GOP in an election year: They would have to pass a clean debt limit bill or risk default.
Between this, government funding legislation and the farm bill it appears this year Congress might just do the bare minimum required of them instead of starting big public fights which needlessly damage the economy.
If Congress keeps just barely functioning they might soon see their job approval raise out of the single digits to possibly the high teens.
Photo by Gage Skidmore under Creative Commons license