Since raising the debt ceiling is not necessarily contingent upon any budget plan, this is clearly a situation where the government and the nation are being held hostage by republican terrorists.
The Reid plan, because it apparently does not include any new sources of revenue, such as ending the Bush tax cuts, is total capitulation to terrorist demands. We don't need to give them anything.
In terms of what the terrorists will accept, the Reid plan may be acceptable to the terrorists, and it seems to do as little damage to the American People as possible while still being acceptable to the terrorists.
Seeming best case scenario: The terrorists do not accept the ransom offer, and the Prez O issues an EO cleanly raising the debt ceiling, crushing the terrorists, making himself and Dems look like heroes, and eventually forcing SCOTUS to show their hand to the American people. (See addendum below)
If SCOTUS overturns the EO, all hell breaks loose, and they publicly become part of the terrorist group that is trying to bring the country down. If the House impeaches the President, they totally publicly diss the guy that just saved the country.
In 2012, there is an all around landslide victory for the Democratic party.
If I were playing poker, this would be my ace.
Call.
Addendum:
Bill Clinton would use 14th Amendment to raise debt ceiling
By Alicia M. Cohn - 07/19/11 08:53 AM ET
Former President Clinton said Monday that he’d use the 14th Amendment to raise the debt ceiling if he were still in charge.
Clinton said he would not hesitate to invoke the constitutional option “if it came to that” and a deal proved impossible to reach with Congress. The former president made the comments to The National Memo on Monday evening.
Clinton said he would “force the courts to stop me” by interpreting 14th Amendment to allow the president to bypass Congress to raise the debt ceiling in order to avoid a government default.
http://thehill.com/homenews/administration/172165-bill-clinton-would-invoke-the-14th-amendment