The things that will be required going forward are determination, a willingness to grab as much as possible, then come back for another bite of the apple and a hedgehog mentality. This is a marathon, not a sprint. After this, we have to a) grow the economy, b) balance the budget and c) start running surpluses. These things are achievable with the right attitude and the right discipline.

Finally, it’s time to stop doubting Kevin McCarthy. From what I’ve seen, he’s exceptional at adapting to the situation. The underlying principles stay the same but the tactics might change to fit the situation.

[Gary also says he likes the Freedom Caucus’ efforts to push hard for more fiscal discipline. I agree. No one needs to be made into villains in this episode. This is, as I wrote yesterday, a tactical win with the strategic battle still ahead. — Ed]