Someone Capitol Hill has maybe, possibly come to his senses, and it’s House Speaker John Boehner, who upon careful reflection has apparently decided that Obamacare is not, in fact, worse than forcing the first-ever U.S. sovereign debt default. He feels so strongly about it, in fact, that he’ll even break the sacrosanct Hastert Rule, a doctrine that House Republicans rank between the Bible and the Constitution in importance, to avoid it.
One lawmaker, who spoke on the condition of anonymity, said Mr. Boehner had indicated he would be willing to violate the so-called Hastert Rule if necessary to pass a debt-limit increase. The informal rule refers to a policy of not bringing to the floor any measure that does not have a majority of Republican votes….
It is conceivable that Mr. Boehner could pass a debt-limit increase with a slim majority of Republican votes, and Democrats making up the difference, as he has in the past on budget measures. In meetings with Republican lawmakers, the speaker appeared to be offering reassurances to members worried about the government shutdown that he would not allow a default to take place.
Other Republicans also said Thursday that they got the sense that Mr. Boehner would do whatever was necessary to ensure that the country did not default on its debt.
So no U.S. default—but also, contrary to earlier indications, no jobs report tomorrow. (The Labor Department is working today, apparently, as is Challenger, Gray & Christmas, a firm I did not just make up.) Read more »