Gambling On Armageddon (No, Seriously)

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The debt ceiling fight is sucking up all the wonk blogging oxygen these days, but I’m struggling to think of anything new to say about it. Republicans are great negotiators, Obama left himself wide open to lose this battle, Republicans are crazy, Democrats have no consistent position on offer, Republicans may benefit if the economy tanks, Democrats may benefit if independents conclude that Republicans are reckless and crazy, etc. etc. I guess it’s worth repeating this stuff to make sure the point gets across, but there are only so many synonyms for “insane.”

So instead, let’s have a pool. Answer the following three questions:

  1. When will we finally reach a debt ceiling agreement? (The drop-dead date is supposedly July 22, with a second really-for-sure drop-dead date of August 2.)
  2. How much will the debt ceiling be increased? A lot (the full $2 trillion or so) or will it just be a stopgap ($400 billion or so)?
  3. Will it include any net revenue increases? How much?

I know, I know, I’m asking you to bet on the end of the world. And I’m not even offering any prizes. But the winner gains much commenting-fu in the coming year. Here’s my entry: (1) August 7, (2) $1.7 trillion, (3) Yes, $200 billion.

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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