Of course the teevee is breathless with anticipation that a "Deal" will be made "at the last minute," yadda yadda, but I've been arguing for years that we went over that Cliff long ago, and all we've been doing since is deciding who will be able to grapple their way back up the Cliff face and how fast.
Nevertheless, the media has such an investment in their Cliff Narrative (and that includes the self-proclaimed "new media") that they're not about to give it up now.
What exactly happens if no "Deal" is brokered is anybody's guess. Taxes on the working and middle classes will go up no matter what, and benefits for the poor, the sick, the halt and the lame will be cut, no matter what. Military spending will not be reduced and may actually be increased no matter what.
And the Security State will be secured ever more.
That's what will happen regardless of any "Deal" and I think by now we know that -- or at least we should.
The People don't matter in these kinds of things. All that matters is that the Highest of the Mighty receive an ever greater share of whatever "good" there may be.