The Republicans in the U.S. House of Representatives are about to give Democrats, President Barack Obama included, a clean vote on whether or not to raise the federal debt ceiling. For months now, Obama, Treasury Secretary Tim Geithner, and congressional Democratic leaders have been demanding an increase in the debt ceiling without having to accept any preconditions like real reforms in the budget process or real limits on future federal spending. For their sins, they are getting exactly what they wanted. What they do with it is another question entirely. It is highly doubtful that the Democrats ever thought the...