In early Spring, Obama is going to get probably one of his biggest tests as a Democratic President. The debt ceiling will have to be raised. Republicans won't allow it to be raised, unless some major spending cuts are offered. Let's be clear, our deficits are caused by an exhorbitantly expensive health care system, Bush tax cuts since 2001 (which were just inexplicably prolonged)and military spending. NOT, Social Security, Medicare, Veterans health care and benefits, food stamps, etc. Programs that actually help people.
We are going to have to launch a huge writing and calling campaign to the White House and our Reps in the Senate (in particular) and Congress. We cannot let the Republicans further divide our country. The income disparity is alarming and we need our leaders to start shouting this from the rooftops every day. Will President Obama stand strong on this? I honestly don't know. We cannot negotiate this from a position of weakness. We cannot trade away our biggest achievements in social safety net programs so that the rich can continue to get tax cuts they don't need.
Here is a pretty good summary of what is going to happen from Campaign for America's Future's Dave Johnson:
Edited to conform to DU's fairuse policy for copyrighted material. Lithos, DU ModeratorThe Rest:
http://www.huffingtonpost.com/dave-johnson/the-debt-ceiling-threat-t_b_799946.html