The handwriting is on the wall.

House Speaker John Boehner, who has twice capitulated to raising the debt limit under Barack Obama’s presidency is not only about to do it again, this time he has raised the white flag of surrender before the bargaining has even begun, say members of his own caucus.

It’s not just House Republicans and conservative pundits who see it. Even Obama’s closest advisers see a clear field to dictating the terms of continued borrowing and spending for the next four years.

David Axelrod, the architect of Obama’s re-election effort, said Boehner has given “encouraging” signs that House Republicans, whose approval of any spending plan and any hike in the debt limit, is required, are ready to work with the White House.

Republican senator Bob Corker of Tennessee agreed: “There is a basis for a deal,” he told Fox News.

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