What we need is a bill that cuts federal spending by 2.5 trillion. Unfortunately we’ll never see more than 1 billion in cuts - backed by a tax increase greater than that!
If the House does nothing (i.e. does NOT raise the debt ceiling), then we will be half way there. Unfortunately, our House Republicans are more than happy to carry Obama's water. It is precisely because of their last $2.5 trillion debt ceiling increase that Obama was able to buy off enough votes to win last November.