Quote from AAAintheBeltway:
I don't thnk too many republicans believe out of control spending and raising taxes are good for the country.
As for the debt ceiling creating a disaster, I hear echoes of the bailouts. Life as we knew it would end if we didn't bail out FNM, FRE, AIG, GS, C and all the other big banks, every big hedge fund (via AIG), GM, Chrysler, California, Illinois and a bunch of other states that depend on overpaid government unionized workers to keep dems in power, etc etc. Would we fall for that again? Doubtful.
But we fell for it then, and the result is we have run up more debt in two years than the entire history of the country, even including Bush, who I don't spare from some blame. We are so far in the hole, even the drastic cuts in the Ryan plan don't really save us. As for Obama's so-called plan, even the Washgnton Post said it was a joke.
If failure to raise the debt ceiling will legitimately be a disaster, and I don't buy it, obama has two choices. He can drop his far left approach and reach agreement with Boehner, realizing that Boehner is really the only thing protecting Obama from the full wrath of the Tea Party. Or, he can do what any company with cash flow problems does. Prioritize, cut nonessential spending, save cash or, if necessary, restructure. It won't be the first time we've welched on obligations, and I doubt it will be the last.
Personally, I htink Boehner was foolish to throw out the trillions number, but now he is stuck with it. I really don't see how he can back down and stay as Speaker.