Yet, ironically, to default, as the Republicans are risking, is to jack up everyone's interest rates, which amounts to a tax!! Republicans claim to be the responsible ones when it comes to spending, but to afford those tax cuts to millionaires and billionaires, requires America to spend; and that means borrowing more money!!
So, now, the Democrats are willing to put off the tax increases, so that we can raise the debt ceiling and avoid a default. So, do the Republicans respond by shaking hands on an agreement that gives them the best out of the deal? Nope. They still want more!! The Republican party is behaving like a greedy, bully who never learned in kindergarten that a mature, person shares in both reward and responsibility. Besides, a default that Republicans are risking, would jack up everyone's interest on their mortgages, credit cards and student loans, which would amount to a tax increase for everyone!!
On a related note, It's appallingly out of touch that Republicans have us talking about reducing debt during the worst jobs crisis since the Great Depression!! It seems a better idea to focus on jobs, first. President Obama was trying to do just that before Republicans hijacked the agenda to suggest that America not pay its bills. I say, "not pay its bills" because raising the debt ceiling isn't about accruing additional debt but to pay for the commitments we've already made. So, to not raise the debt ceiling would be like buying a new house but refusing to pay for the mortgage.
If we focused on jobs first, then we could strengthen our economy, so that America would be in a more financially secure place to better weather cuts to government programs.