Allow me to go out on a limb here and predict that President Obama and Republican leaders will agree to raise the debt ceiling, averting an economic crisis. This prediction is based in part on reports I am hearing of tentative progress: Administration sources say both sides are agreeing to cuts in spending in a cordial and serious process, and that the cuts are distributed among the constituents of both parties. If they continue making progress, they’ll be able to win the votes from House Republicans and nervous Senate Democrats to pass a debt ceiling increase.
But you don’t need to know any of that to make this prediction. You simply need to recognize exactly where we are in the midst of a familiar storyline. The debt ceiling fight is just like the fight over funding to keep the government from shutting down, which was just like the fight over extending the Bush tax cuts, which was just like … well, you get the idea.
Washington has become a Saturday serial like the kind they showed at the cinema in the middle of the last century. Each episode ends with a cliffhanger in which the hero or
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