IMO, the Republicans should pass one bill that entends the Bush tax rates for everyone except for the top rate and make them PERMANENT and tie this bill to eliminating the AMT and add something else the Republicans want to this bill - dare Reid & 0bama not to pass it.
Then pass a second bill that extends the Bush tax cut for the upper income taxpayers and add something the Dems want - let the Dems and 0bama shoot this bill down, so they own the tax raises on the wealthy & small businesses.
Athough the higher rate will affect me personally, the permanent tax rates will help future generations including my children.
Then use the debt ceiling debate to cut spending, threaten to shut down the government by not raising the debt celing if there are no spending cuts.
And for the third option, my recommendation would be to not tie increasing the debt ceiling limit to anything. Instead I would tell Boner/Boehner to absolutely declare that the debt ceiling will not be increased by even one single penny, period. And the go home for the holiday, and let the demturds & 0dumb0 & the media huff & puff & go insane trying to convince the Repubs to raise the debt ceiling, instead of them cutting spending. Unfortunately Boner/Boehner is so scared sh_tless of 0dumb0, that he will never do any of these three options.