Like most Americans, I have one word for the debt ceiling debate: B-O-R-I-N-G. The media (read: cable news and the blogs) have insisted on treating this issue like the Battle of Gettysburg. Yes, the larger political issue is government largesse verses austerity (we're headed for the latter). And yes, the recent machinations in DC do constitute history. But it's mostly been an undignified catfight over accounting methods. The stuff of fond memories it ain't. "Honey, remember the day when Obama and the Congress reached a deal on the US debt ceiling back in 2011? Feels like it was just yesterday." Right. As I noted weeks ago, the US would not shoot itself in the head and default. A deal would be cut. And it would be ugly. Check. Check. And check. In Washington, both sides are bitterly complaining that the deal sucks. That's means it's a halfway decent deal (for now). Yes, that's a cliché. But that fact makes it no less true.
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