When push finally came to shove, it wasn't much of a nailbiter: The House of Representatives has passed the much-discussed bipartisan debt ceiling compromise. The final roll was 269-161. A solid majority of the Republican caucus supported the measure. Democrats split almost evenly down the middle.
The measure will now move to the Senate, where it is expected to pass tomorrow. More than a few upper chamber Republicans are prepared to vote "no" (Rubio, Toomey, Johnson, Lee, DeMint, Graham, and others), but I've seen no indication that even the plan's most ardent opponents will move to obstruct an up-or-down vote.
From a conservative perspective, there is cause for cheer and alarm now that the compromise appears to be well on its way to becoming law. What say you, credit ratings agencies? The fight goes on...
UPDATE - Amazingly, passage of the debt ceiling compromise was overshadowed by another remarkable event on the House floor this evening. Rep. Gabrielle Giffords (D-AZ) returned to the Capitol to cast a vote in favor of the bill -- her first vote since she survived a terrible January shooting spree in Tuscon. Giffords received a sustained and thunderous standing ovation as she made her way onto the floor. The bipartisan outpouring of affection for her was an incredible, moving moment. Goosebumps. Stand by for video.
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UPDATE II - Paul Ryan's office released this reaction to House passage of the Budget Control Act:
“While the immediate debt ceiling issue has been responsibly resolved, a spending-driven debt crisis remains a threat. To lift this crushing burden of debt and help spur job creation, policymakers must advance serious structural reforms to the largest driver of our debt: government spending on health care, including the President’s costly, partisan health-care overhaul. The Budget Control Act marks a positive step forward in getting government spending control, but much hard work remains.”
UPDATE III - Giffords video added:
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