President Obama just offered to cut the debt by $4 trillion over 10 years. The Republicans said no, they'd rather go for a $2 trillion cut.
I'm starting to think that the Republicans actually love the national debt. After all, it gives them an excuse to do all of the things they've always wanted to do: privatize Medicare, cut Social Security, gut environmental protections and destroy unions
Absent a debt crisis, they could never get away with any of this because it is all very unpopular politically.
I think they will try to keep this a crisis for as long as possible.