As mentioned below, my post on January 25th is as timely today as it was then. 6 Months ago, we could have implemented my plan and we would not be facing inevitable economic tumult. Now we have no choice but to increase the borrowing power of the Fed to keep our country solvent. However, for those of you not paying attention, the Right has never been concerned about the solvency of this nation or deep spending cuts for that matter. It has always been a political ballot box game to them regardless of the cost.
We lived a microcosm of this during the MN State Government shutdown and when the Governor called their bluff, they got cold feet, initially. They had no choice but to own an offer they thought the Governor would never accept.
I suspect something similar will happen in the next day or two. The President will agree to a smaller, shorter term offer as long as it extends past Nov 2012. I mean, we wouldn't want to go through this same process just before an election, that would be . . . what . . . putting personal political partisanship over the best interest of the country. No one would do that, would they?