Originally Posted by Direckshun
I think Obama and Boehner will blink simultaneously, coming to a small-ball deal so they can say they came to a deal, a la fiscal cliff.
I don't think, however, that they come to this deal prior to hitting the ceiling.
This is going to sound crazy, but the GOP's base is so pissed at them, they basically have to default the country for a day or so to protect their right flanks, to prove they are fighting with Obama, not compromising with him.
I personally think Obama will refuse to negotiate on the debt ceiling, Boehner will have no choice but to blink because the whole business community is against him and that is Boehner's constituency, not the Tea Party.
When it comes time to actually fund the government and pass a continuing resolution, however, I do think there will be a government shut down, potentially a lengthy one, but thats not in the same league as a default.