If Obama continues to push a deficit reduction plan that involves the elimination of special interest tax breaks in addition to trillions in spending cuts, and if congressional Dems stand firm behind him, it looks like the Republicans will walk away without approving an increase in the debt ceiling.
There seems to be mixed opinion on what happens then. Conservatives mostly agree that it's no big fuckin' deal. Everyone else seems to believe the economic consequences will be catastrophic. Since I wasn't an economics major, I don't know which side is right.
One thing I do know is that if the conservatives are wrong and everything goes to hell in a handbasket this fall, it's critically important that American voters realize who caused the holocaust by refusing to compromise. The only upside to an economic disaster would be seeing the GOP locked into minority status for the duration of my lifetime. That would be one less thing for me to fret about.
THE OLD WAY
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