Don’t make nonrefundable plans just yet for a vacation under the assumption that the debt ceiling agreement that has been hinted at the past 24 hours is, in fact, a done deal.
I’m hearing that there is significant opposition from the tea partiers in the House who (1) don’t like some (taxes and military spending) of what’s in the current deal and (2) think that they can hold out for more concessions from the White House by waiting until Tuesday or Wednesday. As of now, there’s no indication at all that House Speaker John Boehner (R-OH) has the political gravitas with his caucus to simply demand that it vote for any deal. The same dynamic that forced Boehner to change his plan earlier this week to please the tea partiers is still in place.
House Democrats aren’t that happy about the deal either so House Republicans may not be able to count on them to make up for for the tea party missing votes as Boehner seems to have been assuming.
In other words…It’s not over yet.