The Debt Ceiling: What Would Reagan Do?

Many House Republicans seem to believe that the debt ceiling thingy is no big deal. August 2 is a "fake" deadline, and it's just to scare old people. Obama and Democrats are fear mongering by threatening Social Security and veteran's benefits. And hey, isn't Obama's 50th birthday party on the third? This is a setup! Let the country default! Who cares?

Which is all of course kind of nuts. Even Saint Ronald Reagan understood that, when he was dealing with a difficult Democratic Congress.