That's an understatement. With two important fiscal deadlines in November and December, the race for the Speaker of the House just went off the rails.
NY Times reported the breaking news yesterday morning (Oct 8).
Representative Kevin McCarthy on Thursday abruptly took himself out of the race to succeed John A. Boehner as House speaker, apparently undone by the same forces that drove Mr. Boehner to resign.
The Treasury Department has said it will exhaust its authority to borrow money to fund the government on Nov. 5. If Congress does not raise or suspend the government’s statutory borrowing limit, the government would default on its debt days later, risking economic chaos, soaring interest rates and plunging stock prices.
Then, on Dec. 11, a stopgap spending bill expires. Without congressional action, much of the government will shut down.
Once again the GOP does what it does best - governing by paralysis in response to self-created crises.
AZBlueMeanie (B4AZ) weighs in:
The gang that couldn’t shoot straight can’t even elect a leader because of the radical extremists in the GOP House Freedom Caucus. And they want to be in control of the government? God save America from such a fate.
Charles Pierce has piercing comments in Esquire (h/t the Meanie).
There are all kinds of chickens coming home to roost. This development – which, I would point out, leaves Jason Chaffetz (R-Zygote) as the "moderate" choice for Speaker of the House, and third in line to be president of the United States – is the final justification for all of us who have been saying for a while now that there is no "extreme" wing of the Republican party any more. The prion disease has taken full hold of the party's higher functions. It is already being bruited about the monkeyhouse that Chaffetz may not be pure enough to satisfy the Freedom Caucus, the claque of angry gossoons who sank McCarthy the moment that McCarthy told the truth about what the House is up to with its hearings on Benghazi, Benghazi!, BENGHAZI! ...
... The balance of power in half the national legislature now seems to be in the hands of the crème de la crazee. ... Is this finally enough for the elite political press to notice that half the American political process is in full-blown dementia? Or does Jason Chaffetz have to lose, too?