Republicans have consequences

I guess the market's response to the debt ceiling deal means we are all Krugmans today. Even our Gaultian overlords appear to have suddenly realized that the prospect of double dip recession and no promise of stimulus or action by the Federal Reserve may be worse than a small increase in their marginal tax rates.

And just remember: Republicans now control the government's reaction to economic upheaval, Obama owns the (awful) consequences, and the Washington press corps is in charge of the play by play.