Your take: What happens on August 3rd?

[DetlefK]

Boehner can't support increased revenue or he will loose the tea party wing. Obama can't support a cuts-only bill, or he will loose the support of the liberal wing.

My guess is, that the debt ceiling won't get raised by that date. The republicans will then use the climate change approach:
1. There is no default.
2. There is a default, but we are not to blame.
3. We are to blame, but a default isn't bad at all.

Approx. by August 4th Obama will give a press conference and declare his intention to use the 14th Amendment solution. Republican uproar, pondering impeachment. And before August is over, the debt ceiling will be raised.

[no_hypocrisy]

1. If Obama uses the Fourteenth Amendment and the House votes to impeach him:

1. the debt ceiling remains raised, and
2. the republicans get acquainted with the Constitution. (Either the Senate doesn't convict Obama or if it does, hello President Biden and he's not as conservative as Obama.)

[Name removed]

13. Deleted message

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[hobbit709]

2. Same thing that's going on now.

much posturing by both sides. The rich will continue to screw the poor while laughing all the way to the offshore bank.

[baldguy]

3. Considering than the GOP has gotten nearly everything they've wanted out of this president

And they're still not happy.

Either we get crippling spending cuts to SS, Medicare & discretionary programs - which cuts the recovery off at the kneecaps & plunges the world into a full-blown depression. Or we go into default - which crashes the US & international markets, cuts the recovery off at the kneecaps & plunges the world into a full-blown depression.

[Jakes Progress]

4. The people get screwed.

[nevergiveup]

5. There will be a last minute clean debt ceiling bill

signed by Obama at 11:59 PM 08/02/11. The writing is on the wall and it has been there for some time.

[BiggJawn]

6. The country defaults and the currency becomes worthless.

Then it'll be time to get a spiky mohawk, some black leather clothes and start speaking in an Australian accent.

oh, and form a new city called "Bartertown".

[Creideiki]

8. This is the "US defaults so the oil-producing nations switch to the Euro"

scenario.

And it should be the one thing that scares people to sanity.

[BiggJawn]

9. Oh, I hadn't thought of that. You're right...

There's been rumblings of OPEC pricing things in Euros for a while now. this would push it.

I've been too focused on the prospect of trying to buy groceries with little green slips of toilet paper.

Unfortunately for us, "Sanity" is not the ReTHUGlican/TEA Party's long suit.

[treestar]

7. Obama gets all the blame on DU

From same posters who won't accept any deal.

[lunatica]

10. That's positively prescient of you!

Two DUers having a calm political debate ------>

[LWolf]

11. Lose. Nobody is loosing support. nt

[southernyankeebelle]

12. The way I see it even if it is passed we are screwed one way or other. It doesn't. Obama let us

down. I will never forgive him. The way I see it Obama turned out to be an Uncle Tom. Sorry I don't mean to offend any minority.

[Philippine expat]

14. Nothing