If one stops here, now, wherever it is the House leadership has landed for the indecisive moment, then that's true. But it's a longer-term misreading.
John Boehner has repeatedly vowed to never let the nation default. He vowed that repeatedly in 2011, which was what made the sequestration deal so painfully unnecessary, and he has repeatedly vowed it throughout this year. Boehner's chief mission is to preserve some core of the establishment GOP, thus he's not about to flush the party by executing such an idiotic maneuver as ultimate default--and he has told us that, repeatedly.
What Boehner is presently executing is unquestionably, exceptionally harmful to the nation's interests, but for reasons only the speaker can answer in his own conscience-damaged head he has decided to put some semblance of party unity first--until the last second of the eleventh hour arrives. Then he'll honor his repeated vows, and open the floor to a Senate-bill vote.
It is that, anyway, on which I have wagered for months. My money stays.
Boehner will yet pull this out.
Unless of course I'm colossally wrong. But I'm betting on the White House's "operating assumption," which is what's written above, and which Beutler also acknowledges in his piece.