GOP Suspends Debt Ceiling for Three Months, Gets Pretty Much Nothing in Return

Speaker of the House John Boehner (R-OH) talks to reporters after a House GOP Conference meeting at the U.S. Captiol January 22, 2013 in Washington, DC. Although many Republican House members are divided over tomorrow's important vote that would put off the debt limit by several months, Boehner and his leadership team believe they have the support to pass the extension.
Sad Boehner. Photo: Chip Somodevilla/Getty Images

Dropping their threat to crash the economy into the debt ceiling unless Democrats agreed to steep spending cuts, 199 members of the House GOP teamed with 89 Democrats to pass a three-month suspension of the world's most annoying ceiling despite getting nothing in return. Well, almost nothing: The bill included a provision that would withhold pay for lawmakers unless the Senate passes a budget before April 15. (America will surely be rooting for no budget.) Regardless, Democrats were gloating. “The president stared down the Republicans," Chuck Schumer said. "They blinked.”