"Following Mr. Reid’s criticism, Republican officials said they have for months stuck to a consistent position demanding that each dollar increase in the debt ceiling be offset with a dollar in savings. They did not appear ready to abandon that position, with a spokesman for Mr. Boehner saying a two-step process was “inevitable.", New York Times, July 23, 2011The coupling of the debt ceiling and deficit reduction is not law. It is something contrived by Republicans. It is like a teenager telling her parents if she cannot stay out later she will never speak to them again; except it is much more serious.
If the debt ceiling is not raised the entire Republican leadership should be impeached. There is no legal reason that the debt ceiling and budget cuts need to be tied together. It is the Republicans who have bound these issues together. If the debt ceiling is not raised we will have a financial disaster. Therefore, if we have a financial disaster over the debt ceiling, it will be the Republicans fault.
If this is allowed to happen it should be the end of their careers. You don't kill a country to make a point.