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Debt Ceiling Crisis Averted, House Tea Partiers Express No Regrets (MoJo)
Tim Murphy reports on Tea Party reactions to the deal that reopened the government. They don’t care that they gained nothing and damaged the economy, because apparently it was more important to continue their crusade against Obamacare.
Gridlock Has Cost U.S. Billions, and the Meter Is Still Running (NYT)
Annie Lowrey, Nathaniel Popper, and Nelson D. Schwartz look at estimates of how much the shutdown cost. The ripple effects aren’t over yet, since the housing market slowed, short term interest rates rose, and there’s another fight ahead in January.
Study: Congress’s Budget Battles Have Cost the Economy $700 billion So Far (WaPo)
Brad Plumer examines a study from Macroeconomic Advisors that claims that since 2010, all the fiscal fights have cost nearly three percent of GDP. He questions these estimates, because they rely on “policy uncertainty,” a concept of questionable usefulness.
- Roosevelt Take: Plumer pulls from Roosevelt Institute Fellow Mike Konczal’s work to explain why the Economic Policy Uncertainty Index might not be a useful measure.
Male Senators Begrudgingly Admit Women Are Important (National Journal)
Marina Koren points out that the Senate deal was authored mostly by women. A few male Senators have talked about the importance of the female Senators in leading the charge to reopen government, but they all do so in very awkward ways.
Why the House Should Dump Boehner (MSNBC)
Timothy Noah argues that the Speaker’s continued eagerness to accommodate the far right side of his party has marked him as incompetent. By voting with the far right, the Democrats could push Boehner out after the 2014 midterms.
What to Expect During the Cease-Fire (Robert Reich)
Robert Reich considers what’s to come, since last night’s agreement only funds the government through January. He hopes the President and Democrats in Congress will focus on the needs of the people in budget negotiations, instead of deficit reduction.