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In my view, the House Republicans should pass a version of the increase that the Senate won't agree to. If the Senate refuses to pass it, then the President will have to allocate the available monies as he sees fit, and that means cutting out the Dem pork.

Or hey...here's an idea!!!!

CUT SPENDING TO LEVELS SUSTAINABLE WITH REGARDS TO INCOME!!!!!

I know, it's a novel idea, I can't believe that I'm the first to suggest it!

EBUCK

Nice suggestion, but the problem is that there will be no money to allocate if Congress doesn't raise the debt limit. One option would be to enact a short-term increase to get past this weekend's crisis, and then continue doing short-term increases until after the election. But that would make Republicans cringe, because they don't want to vote to increase it at all.

If they think the political fallout from voting for increasing the debt limit is bad, they need to think about what happens if they don't. If government checks start to bounce, it could affect your bank. If I were a car dealer or a resort operator, I wouldn't want people not to have money on a big summer holiday weekend.

And I don't know about you, but my portfolio's taken a big enough beating over the last year or so. The financial markets won't like a default -- not even a little!