It's hard not to poke at least a little bit of fun at Speaker Kevin McCarthy's problems with the most fractious and unruly members of his caucus right now, since the whole episode is such weak tea compared to the strength the Freedom Caucus and the whole MAGA faction were supposed to have leveraged over McCarthy. They haven't exactly turned into paper tigers, but I've read more than one article in the past 24 hours which used the term "defanged," which seems about right.

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Seventy-nine years ago today, the forces of the free world attacked the fascist Nazi regime in northern France. This year, the Ukrainian military is marking the anniversary of D-Day by starting their own counteroffensive against occupying Russian forces. Back here at home, Chris Christie will be announcing his bid to take on Donald Trump for the Republican presidential nomination. There are obvious moral parallels that can be drawn between these events, but today we're going to leave that to others (for the most part).

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And so it all ended with a whimper and not a bang. President Joe Biden will sign the bill passed by both houses of Congress to increase the debt ceiling until after the 2024 elections. The bill is a clear victory for Biden, since it contains very little (virtually any) of the initial Republican budget-slashing demands. But Biden couldn't come out and say how good a deal he got from House Speaker Kevin McCarthy until now, because if he had done so it would have fed into the resistance by the farthest-right members of Congress, but now that the bill has safely been passed Biden has scheduled an Oval Office address for later today (7:00 PM, Eastern Time). We should note this is too late for anything he says to be addressed or included here in this column, but we will definitely be watching Biden speak later on today. [Editorial Note: we did listen to Biden's address, and we know it may be hard to believe, but we had picked out our "Crisis Averted" headline before Biden used the phrase tonight.]

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The news broke in Washington over the holiday weekend that we finally have a deal. President Joe Biden and House Speaker Kevin McCarthy agreed to a plan which will constrain the federal budget and raise the debt ceiling past the 2024 elections. Nobody's exactly thrilled with the parameters of the deal, with grumbles being heard from both from the MAGA right and the progressive left. At this point, though, the deal looks like it will likely garner enough support to pass the House, and the Senate likely won't kill it off at the last minute. That's where things currently stand at any rate.

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We began the week waiting, and we are ending the week waiting. All week long, rumors have leaked out about the status of the budget negotiations between House Speaker Kevin McCarthy and President Joe Biden, with both sides spinning madly to impress their bases, but we end the week with no deal actually inked.

However, we may be close. At least, that's today's big leak. It seems like both sides have agreed to some topline numbers with various face-saving things thrown in so they can both claim at least a certain degree of victory. Whether this actually works or not is still an open question.

Members of both parties are doubtlessly going to howl when the details are publicly released, and then they'll accuse their own negotiators of "giving away the store." But others will accept the face-saving spin and push forward, most likely. That's usually the endgame for such sticky negotiations, at any rate.

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Florida Governor Ron DeSantis is now officially a candidate for president of the United States. He filed paperwork earlier today, and he will be making his campaign launch announcement in a fairly unconventional way (perhaps even as we write this) on Twitter (with Elon Musk). His entry into the race is not at all unexpected, and will have come as a surprise to precisely no one. He's essentially already been running since at least last year. But by announcing, DeSantis has now made it official -- the race for the Republican nomination is now a two-man race.

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President Joe Biden could have avoided the political nightmare he is now caught in the middle of, if he had earlier worked with those in Congress who attempted to deal with the situation before it ever got to this point. But Biden, for some inexplicable reason, decided not to defuse the ticking time bomb and instead he counted on it not blowing up in his face. Assuming for the moment that somehow we'll all manage to safely get out of this situation in the next few weeks (which is still a rather large assumption, at this point), Biden should at least learn the lesson of his own inaction. When the dust settles on the current debt ceiling crisis (no matter how it works out), Biden should immediately move to avoid it ever happening again. Right after whatever deal is struck and passed through Congress, Biden should announce to the country that he has now determined that the debt ceiling itself is incompatible with the 14th Amendment and therefore unconstitutional and null and void. Doing so after the current crisis has been resolved would allow the issue to be litigated while there is no looming threat of default. The case could work its way through the courts all the way up to the Supreme Court with plenty of time to spare, and whichever way the courts ultimately ruled, it wouldn't cause a worldwide economic panic.

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With twelve more days left in the month of May, the debt ceiling follies continue unabated. Speaker of the House Kevin McCarthy just "paused" the negotiations with President Joe Biden, which was a rather pessimistic note to close out what had otherwise been a rather optimistic week. There is speculation that both sides are using this "pause" merely as a political signal to their respective bases -- to show that they are negotiating hard and not giving away the store. If this is true, negotiations will likely resume at some point this weekend. But it's anyone's guess whether they'll agree even on a framework (much less actual legislative text) any time soon.

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May is half over. June looms.

That is where we are, as President Joe Biden and House Speaker Kevin McCarthy try to hammer out some sort of deal which will allow the nation not to default on its debt. Nobody's really sure if June first will actually be the deadline -- the "drop-dead date" is constantly in flux as money comes into government coffers and flows back out again. If we make it to mid-June, the drop-dead date could shift as late as August or September, for instance. But we can't count on that happening -- we must act before the earliest possible date it could happen, which is the first of next month.

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President Joe Biden continues to goad House Republicans into doing exactly what he wants them to do. This is a bit of rather astonishing political jiu-jitsu which has only been possible because House Republicans refuse to publicly admit exactly what they want to slash in the federal budget. If Kevin McCarthy's House Republicans had kept their campaign promises and passed a budget as one of their first orders of business, then Biden wouldn't even have this opportunity (he'd have other opportunities, depending on what cuts Republicans were proposing, but they'd all be out in the open in that case). This week, Biden continuing to heap scorn on the Republican budget plans may serve up another victory for him, which clueless Republicans are going to try to tout as their own victory. Biden, though, has already moved on and has picked a new target. He will likely continue to do this for endless line items in the federal budget (with an emphasis on the ones that Republicans have traditionally supported).

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