As we move into the last week before debt default, it appears increasingly likely that Kevin McCarthy will be the one who loses the most, regardless of what happens. This ridiculous, self-inflicted wound on the nation will be solved either by compromise, which the extremist Make America Great Again Republicans will not support, or by invoking the 14th Amendment, which, if successful, will end with debt limits declared unconstitutional.

Either way, it is hard to see McCarthy surviving when only one MAGA representative can force a vote for his recall.

Any compromise will need the support of both Democrats and Republicans which will by definition cause the MAGA crowd to revolt, as well as many extreme liberals. However, contrary to the MAGA representatives, even the most liberal Democrats can understand the concept of compromise.

If a compromise bill can not make it to the house floor, it is likely the Biden administration would proceed and issue more debt under the 14th Amendment which would immediately draw lawsuits in challenge.

It is hard to imagine any federal judge or panel of judges forcing a default before the Supreme Court could consider the case, and they will not be back in session until October.

Unfortunately, this is already inflicting damage on our economy, and it will increase as we get closer to the actual default.

Good luck, Kevin …. but don’t redecorate the speaker’s office just yet.

— Mike Corbett, Rome