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Debt ceiling follies growing worse by the day

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(William Thomas Cain / Getty Images)

With four days to go (roughly) until the federal government runs out of cash, the effort to raise the debt ceiling is growing more and more chaotic. Last night, House Speaker John Boehner, R-Ohio, couldn’t muster enough GOP votes to pass his plan to raise the debt ceiling in two stages while cutting some $917 billion in discretionary spending (give or take a few hundred billion).

The strain is evident. Earlier in the week, Boehner told House Republicans to “get your ass in line” and back his plan, with no success. House GOP leadership is now scrambling to revise the bill and salvage a vote. But that’s bound to be a futile exercise anyway. Senate Majority Leader Harry Reid, D-Nev., already pledged to sink Boehner’s bill, Obama just denounced it as having “no chance of becoming law,” and making it more conservative just makes it even less likely to pass the Senate.

Meanwhile, millions of federal employees and retirees are growing increasingly nervous with no official word on how a potential default would affect them. The National Federation of Federal Employees today announced their “Each One, Reach One” campaign to pressure lawmakers to get their act together. NFFE President Bill Dougan wants all federal employees to call one or more of their representatives and tell them to raise the debt ceiling by the Aug. 2 deadline.

Because we’ve got to laugh so we don’t cry, here’s Stephen Colbert’s inspired — and incredibly dorky — riff on John McCain’s dismissal of Tea Partiers as “hobbits.”

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