Yesterday, I saw Speaker of the House John Boehner say that it would be unacceptable for the USA to default on its debt as a result of the failure to raise the debt ceiling. While this is undoubtedly the correct answer, I was still glad to hear him say this. Some in congress, like Michelle Bachmann are still pushing for there to be no increase in the debt ceiling. This is an unrealistic position since there is no way to increase revenue or decrease spending sufficiently to end the deficits in the next two months. Even were the most stringent spending controls put in place, there is no way to end the deficits for the next few years. Bachmann's position is just plain irresponsible. Nevertheless, it does serve the purpose of keeping the pressure on those like Obama who think that spending just continues no matter what the public thinks or the economy does.
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