Fizzie Republic

The good news: in a vote early next week, the House will probably agree to lift the debt-ceiling, thereby preventing America from defaulting on its loans and sending the global economy into a tailspin—that is, assuming Speaker John Boehner can corral his troops into voting for a bill that “wouldn’t include immediate spending cuts,” Politico reports. The bad news: it’s a short-term solution only and the House wants to revisit the issue in just three months, thereby once again risking the possibility that America might default on its loans and send the global economy into a tailspin.

“The decision represents a victory—at least for now—for Mr. Obama, who has said for months that he will not negotiate budget cuts under the threat of a debt default,” The New York Times reports. “By punting that threat into the spring, budget negotiations instead will center on tw…

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