It is possible to cut spending deep enough to prevent hitting the ceiling. Democrats refuse to do so, and are demanding higher taxes so they can spend even more.
The Democratic fallback plan is to slash defense spending, which is just as irresponsible as the tax hikes. There is waste in the DoD budget and savings to be made, but any DoD budget below 4% of GDP is dangerous and reflects a wilful and ruinous isolationism.
The Speaker and the Leader need to start communicating their strategy as the president and his allies in Congress have set the debate up to blame the GOP for any market panic while the fault lies completely with the president’s failed leadership –again.