“A Domestic Cuban Missile Crisis”

That’s how Chait aptly describes the situation in Washington right now:

The standoff embroiling Washington represents far more than the specifics of the demands on the table, or even the prospect of economic calamity. It is an incipient constitutional crisis. Obama foolishly set the precedent in 2011 that he would let Congress jack him up for a debt-ceiling hike. He now has to crush the practice completely, lest it become ritualized. Obama not only must refuse to trade concessions for a debt-ceiling hike; he has to make it clear that he will endure default before he submits to ransom. To pay a ransom now, even a tiny one, would ensure an endless succession of debt-ceiling ransoms until, eventually, the two sides fail to agree on the correct size of the ransom and default follows.

This is a domestic Cuban Missile Crisis. A single blunder could have unalterable consequences: If Obama buckles his no-ransom stance, the debt-ceiling-hostage genie will be out of the bottle. If Republicans believe he is bluffing, or accept his position but obstinately refuse it, or try to lift the debt ceiling and simply botch the vote count, a second Great Recession could ensue.

I’m afraid I agree. And the causes are deeper than can be overcome by a man of Boehner’s limited skills.