Three days ago, Washington was preoccupied with the prospect of a “grand bargain” between President Obama and congressional Republicans over deficit reduction. Obama would offer $3 trillion in spending cuts – including changes in Social Security and Medicare – and in return, Republicans would provide $1 trillion in additional revenues and lift the debt ceiling. For Republicans, this was a great deal. Democrats were handing them an opportunity to defund vital parts of the welfare state, a long-time conservative goal. All the GOP had to do was take it. They refused.
John Boehner has lost control of the House GOP. All hell may break loose.