1. President Obama won. For once, he held firm, and it worked. 2. The G.O.P. lost, and so did the Tea Party. Both saw their approval ratings fall to record lows. 3. It was a big waste of time. 4. The United States was also a loser. Its reputation in the eyes of the world was further damaged. U.S. “soft power” took another blow. 5. Republicans need remedial lessons in game theory. If you aren’t willing to go over the cliff, and your opponent knows that, there’s no point in engaging in brinkmanship. 6. Ted Cruz is a charlatan. He pushed for a government shutdown and then joined a protest by veterans and Tea Party members against the closure of national monuments. 7. If anyone has a justification for smoking, it’s John Boehner. Really, wouldn’t you want a Camel Ultra Light if you had his job? 8. The two-and-a-half-week government shutdown probably reduced quarterly G.D.P. growth by about 0.3 per cent. But much of that loss will be made up when the government re-opens. 9. Warren Buffett came up with the best quote of the crisis: “Creditworthiness is like virginity. It can be preserved but not restored very easily.” 10. We get to do it all again in January and February. But next time, we’ll all be aware in advance that the G.O.P.’s threats to force a debt default are empty.
Posted on: Wed, 16 Oct 2013 18:08:39 +0000
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