Default debacle: Epic crisis or epic opportunity

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Clearly, a default catastrophe would be an epic disaster for House Republicans, who could well lose control of the House to Democrats. However, while Republicans receive the lion's share of the blame, Democrats are not exactly receiving sky-high favorable ratings.

If I were a Senate Democrat running for reelection, I would not view an economic disaster that would create a huge public backlash against everyone in Washington as a very friendly outcome of the current fiasco. There are three possible outcomes: 

First is the failure of talks and default. Second, the most likely outcome, is another partial deal that kicks the can down the road and promises more degradation and humiliation for Congress in a few weeks or months. Only a masochist would view this outcome, though better than default, as a plus. The third, which is what I have been exploring privately behind the scenes, would include a plan that would clearly create jobs and clearly lower the national debt at the same time.

It can be done, even though creative ideas are not the currency of choice in our brain-dead capital that shuns big ideas from both sides of the aisle. If I conclude that the plan I am suggesting behind the scenes has any prospect of success, you can read the details in my column on Thursday. If not, I will continue writing about a Republican Speakership in collapse and disarray. And shortly thereafter, I will write about a presidency adrift that will not be well-received by my friends at the White House.

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