The threat of default is over all the way into 2013. The global markets are up this morning on the news that a deal has been struck. Gene Sperling, the director of the National Economic Council said "The president didn't give one inch. The president made clear, while he was willing to compromise, he was not willing to allow anyone to hold our economy or government hostage by using the threat of default."
We have a crisis averted. Everyone compromised. Both sides got what they wanted. Both sides didn't get what they wanted. The Republicans have angry Tea Party members of the House. Establishment conservatives fear the schism in their party will effect the Republican presidential nominating process.
I wonder if the Tea Party's strategy will have more or less influence in future debates.