Debt Ceiling Kabuki

Here's what Brad DeLong thinks we should do about the debt ceiling: http://delong.typepad.com/sdj/2011/07/what-to-do-about-the-debt-ceiling.html

I like it. It's an example of the TACAMO principal (Take Charge and March Out).

There's another principal the Republican intransigents should consider if they get their way: you broke it, it's yours. In other words, if they succeed, everything that goes wrong with the economy in the next year and a half belongs to them! Be careful what you wish for, lest you get it (the Midas Principal).