As Andrew noted, the growing consensus among Republican lawmakers appears to favor raising the debt ceiling but ensuring that any hike is accompanied by significant concessions on the Democratic side, such as spending cuts and/or passing the Balanced Budget Amendment.
What might throw a wrinkle into that plan: the public overwhelmingly is against increasing the debt ceiling. In a new Reuters/Ipsos poll, 71 percent oppose increasing the debt ceiling and 18 percent favor it.
The poll also asked responders what spending cuts they would favor. The biggest winner was cutting foreign aid, which 73 percent supported. Cuts in military spending, the SEC’s budget, and national parks were all supported by about half of Americans.
But other spending cuts were panned by most. Only a quarter are willing to cut education spending, and 21 percent back cuts to law- enforcement funding. And slashing funding for Social Security and Medicare remains as risky as ever: only 20 percent and 23 percent respectively back decreasing funding for these programs.