Will This Fiscal Fight End Differently?

Wall Street regularly shrugs off the fiscal showdowns on Capitol Hill, but Politico notes this time “could be different. Really, seriously different.”

“Here is just a sampling of why Wall Street may be wrong: The House GOP is hopelessly fractured on spending strategy. Senate Republicans who might otherwise broker a deal face primary challenges that make compromise potentially deadly. Other Senate Republicans are jockeying for 2016. And congressional Democrats have no appetite for any bargain — grand or otherwise — that cuts entitlement spending.”

“President Barack Obama at his Friday news conference before leaving for vacation lectured Republicans and mocked their threats to shut down the government rather than fund his signature health care law. Hardly a promising sign for the fall.”

Wonk Wire: Prepare for budget chaos.