It's called political economy because it is has nothing to do with either politics or economy.
Collectively, we are in thrall to media - because they deliver to us many of the psychic goods we crave, and we know no other way to live.
The debate we won't be having is whether or not the debt ceiling should be raised. We will not have a situation where people will hold the American economy hostage in order to achieve a specific agenda - at least not until 2013. So we think that is incredibly important as a matter of economic good.

