It looks almost certain that we'll crash into the "debt ceiling," which really isn't a ceiling in any meaningful sense, since every previous close encounter has ended with the limit on debt blown higher into the stratosphere, accompanied by negligible increases in fiscal responsibility. The much-maligned sequester inserted into the Budget Control Act of 2011 at Barack Obama's insistence is just about the only real spending restraint that ever emerged from one of these debt ceiling "crises." It's laughably puny - but so unusual, as an act of real fiscal discipline, that it still stands out like a neon sign above the sea of red ink - and if the Democrats get there way, it's about to disappear.
At this point, given the sorry history of debt ceiling encounters, I'm leaning toward doing away with it altogether. It serves little purpose beyond providing a faint illusion of responsibility, which is deeply dishonest. The new Obama demand is more debt, on and on forever, without meaningful debate. Let's just be honest about the boosters firing on our rocket ride into insolvency, and stop pretending that anything short of total impending collapse (in about 10-15 years) is going to make a difference, barring a major electoral sea change.