1. Obama and the Senate will not accept spending cuts unless they get substantial tax (revenue) increases.
2. Republicans in the House will not vote for any plan that includes tax (revenue) increases.
3. Many rumors have surfaced concerning the closed door negotiations. None of the rumors matter because...see 1 and 2.
4.1 A mostly-clean debt ceiling increase will pass in about a week.
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4.2 No bill will pass and the country will default, with the blame almost entirely born by the Republicans. A week later, a mostly-clean debt ceiling bill will pass.
That is all.
Thu Aug 04, 2011 at 3:15 PM PT: OK, well I guess I was wrong, way the fuck wrong. But I will not delete, I will wear my shame openly.