I think there's a shift (and this was on Meet the Press yesterday, too) where politicians care more about placating their base than what most American's want because they are facing stiffer competitions in the primaries than they used to. They need to placate the base to continue their political careers more than the majority of voters because it's pointless to satisfy them unless you can get out of your own primary.
The debt ceiling has to get raised. I think anyone with a brain understands the implications of it not being raised. What I don't think the Republicans understand is that all of this sabre rattling isn't really helping them. I think the vast majority of the nation is under agreement that we need to have serious conversations about how our nation does business, but it's not going to get done in a matter of weeks. They have one major 'to-do' that needs to get done before they can start hammering out specifics, but they don't want to let this opportunity to essentially hold the economy hostage to get what they want pass them by.
Personally, I couldn't be more disgusted with House Republicans than I am right now. They're playing chicken with a train.
So our problem here is debt....to solve the problem...let's incur more debt!
There is no choice in the matter. If we don't increase the debt ceiling by 8/2, our rating is going to get downgraded. If that happens, the global stock markets are going to suffer immediately. The bond market is going to crash. The consequences would be worse than 2008.
How we tackle the debt going forward is inconsequential to this debate. They are two separate issues. The only reason they're linked together is because House Republicans are holding the economy hostage to get what they want. I mean, it's smart on their part, politically, to do this. However, realistically, it's been absolutely moronic to do this because A) we're getting critically close to doing something monumentally devastating, B) it shows the world how broken and polarized our political system has become, and C) it's shown the American people that there is no place in this political spectrum for centrists; we are apparently only interested in pushing forward agendas that extremists on the right and left are interested in pushing.
This country can tackle the debt problem by reworking the tax code, rethinking entitlements, slashing extraneous defense spending, and being more judicious on discretionary spending. However, every single one of those topics is a monumental task in and of itself and will not be fixed, intelligently, in the next week. To think we can is asinine.