The House is now voting on the bond vigilate welfare deficit reduction bill.  Live on CSPAN.

House Democrats say they are holding their votes back and leting the GOP max out before they cast their votes to create a new Super Congress to cut Social Security and Medicare benefits.

Profiles in courage.

7:09: Powwow:  Through the Obama/Biden/McConnell/Boehner deal, the Parties are putting into legislative form – thereby formalizing, and setting a dangerous new precedent for their favored backroom Gangs – provisions that provide that the existing rules of the Senate and House shall be suspended and changed throughout the consideration of any of the Joint Select Committee’s simple-majority recommendations.

7:08: It passes. That’s it.

7:02: Timothy Geithner holds a debt ceiling celebration party with the U.S. Chamber of Commerce,Financial Services Forum, Securities Industry and Financial Markets Association, American Insurance Association, Financial Services Roundtable, American Council of Life Insurers, the National Association of Real Estate Investment Trusts, American Bankers Association and the National Retail Federation. I feel compelled to mention that this is not snark.

7:00:  Gabrielle Giffords is in DC and will vote for the deal.