Republicans may pay dearly for that.
As for Obama, he knows not to trust the Repugs and sees no reason to try - again.
...there's really nothing Obama wants from Republicans. They had their
chance at a serious debt-reduction deal and turned it down, and Obama
obviously has no desire to waste his time with that again. Besides, with
the deficit already plummeting, he doesn't need a deal anymore and
couldn't get congressional Democrats to support one even if he did.
So he can stand firm pretty easily because there's nothing much
Republicans can offer him. The only leverage they have is a government
shutdown, and that isn't much of a threat. Both Obama and John Boehner
know perfectly well that a shutdown would hurt Republicans more than it
would hurt Democrats.
But that's logic, and logic is selling at a deep discount these days.
The fever swamp wants a debt ceiling default, and there's a pretty good
chance they're going to force one through. Boehner just doesn't have the
clout or the influence to stop his lemmings from racing over the cliff.
At this point, the most germane question probably isn't whether
Republicans are going to force a default, but how long they'll hold out
after they've done it. Just how badly do global markets have to panic
before they finally come to their senses?
Eight weeks to go and counting. It'll be here before you know it.