Ezra Klein and Evan Soltas: The Republican Party’s problem, in two sentences: Noted
What Are the Risks of Quantitative Easing, Really?

Jack Lew Appears to Understand Washington and the Debt Ceiling Much Better than Tim Geithner Did...

Tim was all, like, "not raising the debt ceiling is inconceivable!" and all "I don't know what will happen if the Congress doesn't raise the debt ceiling! It's inconceivable!"

That was really not constructive and not helpful in 2011.

Jack Lew has a much better take:

White House Shifts Debt-Ceiling Tone, Warning of Fiasco: In 2011, then-Treasury Secretary Timothy Geithner repeatedly brushed off questions about whether Congress would raise the debt ceiling. He wasn’t worried, he would tell audiences. Congress would raise it sooner or later. This time, the White House and its allies are openly telling people they are worried.

On Tuesday morning, Treasury Secretary Jacob Lew told an audience in Washington that Congress’s lack of urgency on fiscal problems was making him “nervous” and “anxious.”… Back then, Treasury was (publicly) denying at every opportunity that Congress wouldn’t raise the debt ceiling. Now, not so much. Their strategy has shifted: instead of saying the government won’t pay its bills, they are saying if the government doesn’t pay its bills it will be the Republicans’ fault…. The White House has thrown out the 2011 playbook and are trying something new.