Janet Yellen has been named Chair of the Federal Reserve. But as for the Great Stupid Impasse in Washington, I can’t say that anything significant has happened over the past 24 hours or so.

I’m glad somebody finally said this — the 14th Amendment applies to Congress. Many have said that the 14th gives the President a means to raise the debt ceiling without Congress, and maybe it does. But more significantly, the public debt clause in the 14th binds Congress to not allow the nation to default. You’d think the baggers who get misty-eyed in reverence for the great founding document, would notice this. More proof they can’t read?

See also the Booman