by Jim Rickards, DailyReckoning:
It’s all over now except the shouting about Obamacare repeal and replace, but that’s not the half of it.
The stand by Senators Lee and Moran was much bigger than putting the latest iteration of McConnell-Care out of its misery. The move rang the bell loud and clear that the Imperial City has become fiscally ungovernable.
That means there is a chamber of horrors coming. With it, an endless political and fiscal crisis that will dominate Washington for years to come. Its cause is deep and structural.