Fasten Your Seatbelts, folks. According to money.conn.com brinksmanship over the debt ceiling could make the fiscal cliff standoff look like child's play.
Right after the House passed the fiscal cliff compromise, President Obama said, "I will not have another debate with this Congress over whether or not they should pay the bills that they've already racked up through the laws that they passed." But Republicans continue to insist that any increase in the debt ceiling must be exceeded by spending cuts and entitlement reforms.
"[The president] doesn't even want to have a discussion about it because he knows this is where we have leverage," Sen. Pat Toomey said on MSNBC earlier this week. "We absolutely have to have this fight over the debt limit."
Senate Minority Leader Mitch McConnell said Thursday that Republicans in coming months will "force the conversation that Washington needs to have" about spending cuts if need be….