So President Obama is threatening to veto a small ball bill, that raises the debt limit and has some modest cuts. And it might be that that's the only kind of bill that can pass the House of Representatives.
Perhaps I was correct the other day when I suggested that this is not the best time to have a big fight over the size and job of government. As Rich Lowry concedes, "I may have vastly over-estimated Republican leverage on the debt limit."
If the smallball version can pass both the House and Senate, it's certainly worth sending to the President's desk. If it gets there, that will make life very interesting.