The Dems will never allow a default to happen because it would be the end of the spending spree since it would mean the end to easy borrowing.
The Dems must have the next round of borrowing to continue to SPEND.
The only reason the Pubbies will not force the issue is that they intend to spend as well.
So I say take the debt limit to wall. Dems will have no choice to cave or start living without borrowed money.
It would be interesting to see how the debt repayment is structured. How much is coming due in principal that has to be retired?
If obama doesn’t make the payments there are going to be some pissed off Chinese. Think they will foreclose?