The Obama administration now has a proven strategy to use next time Republicans threaten to breach the debt ceiling. But next time may not be like this time, and each time does real damage. Next time, someone needs a Plan B.
In September 2008, the Federal Housing Finance Agency took over Fannie and Freddie and the Treasury Department agreed to cover their losses to keep them in business. But it has cost taxpayers $162 billion so far to cover Fannie's and Freddie's losses.