A few quick notes on the debt ceiling

Where are we right now?

Let’s be clear: there will be a deal. For all of the brinkmanship from Republicans, and their willingness to basically blackmail Democrats, holding the economy hostage, the two sides seem too close — and the cost of default is too great — not to get a deal.

The road might be rocky, and things may hit snags, but a total collapse and default seems unlikel…