The President says he can't promise Social Security checks would go out if the debt ceiling wasn't raised, a claim which is dubious to say the least. The GOP claims the Democrats aren't open to touching entitlements, which doesn't seem entirely true either. The Democrats claim not taking action would prove cataclysmic. The GOP asserts the effects would be marginal at most. While not raising the debt ceiling would obviously not be preferable, both sides are likely trafficking in quite a bit of hyperbole here.
At the crux of everything holding up the debt ceiling debate is the GOP's insistence on keeping tax cuts for rich folks which have been proven to not create jobs. If this sounds like deja vu, it's the same hostage-taking technique they pulled to force Obama to extend those very same tax cuts back in December. It's all a huge sh*t sandwich that shows everything wrong about the current hyper-partisan state of American politics.
Instead of yet another pointless round of debating which side is right here, I want to cut to the chase and ask a slightly different question. Please read thoroughly before answering!
Question: When all is said and done, how (specifically) do you think this debt ceiling debate will end? Will the limit be raised (again, as usual)? Will the GOP's insistence on keeping those tax cuts for the rich prevail? Will the Democrats and Obama totally cave? If nothing's done, what would happen as a result? Again, leave your personal thoughts on how this should work out of the equation, and focus on how you think it will work out instead.
