The Debt Ceiling

Stage Two of the budget negotiations...

So, having wrung almost all of the spending cuts that the mainstream GOP House members (both of them) wanted, we turn now to the debt ceiling.

Now, it is self-evident that the debt ceiling must be raised, unless the US wants to become Argentina in 2001.  (Hint: we don't.)

The Wingnuts are saying that in order to raise the debt ceiling, ACA, DADT and the 14th Amendment will have to be repealed (or something, it's so hard to keep current with the crazy).

Obama can not cave on this.  I don't think he will, but he can't.

The GOP says that the Democrats created the debt.  That is categorically false, as the debt was created by
1) the Iraq War
2) the Bush tax cuts
3) the recession caused by lax oversight of the financial markets

So, the GOP has to be on the record as stopping default.  I doubt it will happen.  But first, the Democrats have to show how irresponsible the GOP is being with playing chicken with the debt limit, then, if needs Democratic votes to pass, it should be extended a lot higher than immediate needs, so that we don't have to go through this again in 2012.

Once again, not holding my breath.