Originally posted by Kunsoo
Oh, I don't know. Maybe because millions of working class people will suffer immensely if they don't?
Oh, them. They don't count.
Reid's plan will be a disaster for Democrats. The best possible result for that party is if the Republicans refuse to budge an inch off the Boehner bill and a default occurs. Obama could then just invoke the 14th Amendment, borrow to pay the government's obligations and use available revenues for other services.
That is the only way for the Dems to avoid losing this showdown politically since they have chosen to cave in on their politically popular positions at the behest of bankers.
EDIT: A recent CNN/ORC International Poll reveals a growing public exasperation and demand for compromise. Sixty-four percent of respondents to a July 18-20 survey preferred a deal with a mix of spending cuts and tax increases. Only 34% preferred a debt reduction plan based solely on spending reductions.
According to the poll, the public is sharply divided along partisan lines; Democrats and independents are open to a number of different approaches because they think a failure to raise the debt ceiling would cause a major crisis for the country. Republicans, however, draw the line at tax increases, and a narrow majority of them oppose raising the debt ceiling under any circumstances.
http://www.cnn.com/2011/POLITICS/07/30/debt.talks/index.html?hpt=hp_t1
Note the last sentence; the majority of Republicans in this country want a default.