From Financial Times:
The next "cliff" is the debt ceiling on March 1. That's when the showdown on spending could shake up a lot of the financial markets and lead to some "fundamental changes" in the way Washington, D.C. operates. Or, as with this last "cliff," it might just be another "bump in the road" that gets steamrollered by the Obama administration.
If Rep. Boehner folds on spending in March, look for a Republican Party civil war. The Tea Party will split away ensuring that the Democratic Party keeps the presidency for the next decade or so, but will face an increasingly intransigent Congress as conservatives assert themselves.
John Boehner has shown a general lack of spine with regard to spending cuts, so expect his tenure as Speaker of the House to be short lived.
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