This will be a short diary, but an important one. It seems that Fox News is starting to spin the idea that breaching the debt ceiling won't be that bad of an idea. This means the Republicans are probably serious about it. Here's the text of the headline for their front page article today:
TREASURY SECRETARY Jacob Lew defends accusations of fear mongering over Congress potentially failing to increase federal debt limit — including his assertion that economic impact would be 'catastrophic,' but declines to provide specific examples.Frightening. Almost unbelievable. But with Fox also perpetuating the nonsensical use of the word "slimdown" in place of "shutdown", one can often see hints to the Republicans' state of mind through the Fox News text.
A part of me wants Obama to negotiate, just because I know that the debt ceiling breach will almost certainly bring on a Depression that would make 1929 look like a cake walk. It would be equivalent to the Visigoth sack of Rome - the end of America as a world power, and the harbinger of its fall. But the other part, far more dominant, knows that Obama can't negotiate, else we cede democracy to the minority. It doesn't even matter to me that this will cause Democratic wave elections in 2014 and 2016. Winning isn't that important to me. We must stand firm on this.