Can you imagine walking into his office with every credit card you have maxed out and not enough income to pay the minimum payments or other bills and hearing.... "you need to call your credit cards and beg for them to increase your credit limit, keep spending as is and find a way to make more money so you can pay your minimum payments". This guy is amazing.
Then, he says today he "can't guarantee Social Security checks on 8/3/11" if the debt ceiling isn't raised. Well, I can guarantee Social Security checks on 8/3/11 because SS isn't a "debt" like a treasury bond, it is an entitlement will be paid regardless of whether or not the debt ceiling is raised. Scaring old people... back to the Democrat playbook.
Republicans need to play this right. Either they hold Obama over a barrel now and get massive spending cuts and no tax increases OR just wait until 8/2 and get spending cuts because the government has no money to spend. Spending will be reduced either way.