The debt ceiling will be raised. That much seems clear.
But in getting there the damage has already been done: namely, by the GOP controlled Congress who have demonstrated they can't be trusted to govern the United States in a responsible manner.
With the Republican rank and file putting the party and ideological purity before the common good and all common sense, at the moment it looks like no deal is possible.
On Wall Street big, intractable problems tend to get resolved with urgency and without political posturing, but the opposite happens in Washington. Thanks to this lingering debate mistrust and ill will have grown between the parities.
But it's become quite clear that in drawing a line in the sand over the debt ceiling the GOP House has miscalculated, because what looks like good good sense to their Tea Party base looks like political and economic suicide to the American public.
The business community have been patient. They have waited for sense to prevail. But this week they lost faith in the GOP's ability to govern. That's why 470 CEO's sent a letter to every member of Congress and the White House urging action on the debt ceiling and expressing support for deficit reduction.
If anything has to convince you that the GOP have reached a further shore of governmental hubris, it's the sight CEO's reduced to begging our congressional representatives to reach agreement.
Senate Minority Leader Mitch McConnell put his cards on the table long ago: his job, he said, is to stymie President Obama. McConnell's convoluted plan to give the President unilateral power to raise the debt ceiling is really nothing more than a gambit to ensure he'll get all the political blame for an out-of-control budget.
This is the kind of blatant tactic that convinces the US business community that GOP politicians are ignoring extremely harsh realities to further their party's political interests.
The nation is looking on and coming to the same conclusion.