Congressional Republicans have refused to raise the debt limit unless the Obama Administration agrees to large and immediate spending cuts. They have their finger on the nuclear button and are threatening to detonate unless they get their way. It seems crazy that they would actually do it, but congressional Republicans have done a pretty good job of convincing the Administration (if not yet the financial markets) that they just might do it.
Obama has responded by entering into negotiations with the congressional Republicans. These negotiations have not gone well, largely because Republicans are united upon an all-spending-cuts, no-tax-increases approach to deficit reduction.More info here and here.
I'm not going to say much on this, because I feel like I've said it before.
However, I will say this:
First, GOP & co, you don't get to preach "fiscal and personal responsibility" and then let the U.S. default. Either stand behind what you're constantly harping on, or STFU. This is not a "do as I say, not as I do" situation. Allowing the U.S. to default because you don't get what you want is neither responsible NOR "small government" (which we all know you've not actually done for ages, but still). Further, having a temper tantrum and holding the U.S. government hostage because you don't get your way is not responsible, it is not "moral," and it sure as hell isn't what you douchecanoes get paid to do. Also, you'd be fucking yourselves just as much, so as adverse as you are to this concept, let's stop and think a moment, shall we?
Second, I CANNOT believe I am actually saying this, but Mr. President, you don't negotiate with terrorists. This is now an actual hostage/blackmail situation. There's is nothing subtle about it. They've hijacked control of the debt limit, and they've given demands. STOP. FUCKING. PANDERING. TO. THE. RIGHT. They will NEVER be happy with what you do. It will NEVER be enough. Every time you give an inch, they will demand a foot. So stop giving into this bullshit and trying to compromise with them. It's pretty clear they don't give a fuck about compromising, and all you're going to do by continuing to negotiate with them is further alienate the people that do support you.
I am ALL about an intelligent discourse and working together in politics. But that turd's been flushed. We are so beyond that point now, it isn't even funny. It is unfortunate, yes, but at this point, the best option is to limit the impact of this little inquisition before everyone hates you.
God damn it Democrats, grow a fucking backbone.