Halperin's Take

If there is a deal that avoids a default, it is almost certainly going to be opposed by Nancy Pelosi and Michele Bachmann, and supported by Barack Obama, John Boehner, Mitch McConnell, and Steny Hoyer. If the White House can swallow Mediare/caid cuts of this size, they will expect some give on the Republican side on raising additional revenue. This story takes the narrative bridge about 31% there. That still leaves a short period of time to go a long way.