The Debt Ceiling Crisis is rapidly becoming a potential “Waterloo” for both the Republican Party and the Democratic Party.
For the Republicans, their split on strategy, and the possibility that the Mitch McConnell plan to drop the issue of spending for now and give the President veto power three times in the next 18 months to avoid default , but allow the raising of the national debt, has bitterly divided the party, with the Tea Party people up in arms against the Establishment Republicans represented by McConnell and House Speaker John Boehner.
On the other hand, if the McConnell plan ends up as the temporary solution to the crisis, it will force Democrats to vote THREE times on raising the national debt, and that will be used by Republicans against Democrats in the congressional campaigns of 2012, and is seen as likely to cause the defeat of many Democrats, something that Senator Claire McCaskill of Missouri, a traditional moderate swing state, was screaming about to high heaven to reporters!
The whole issue could neutralize the political combat, but what would seem likely is that INCUMBENTS of both parties could suffer in the upcoming election, while Barack Obama could benefit in a major way!
So it could seem to many that the President might be in good shape, but with his party possibly lying in tatters, alongside fellow Republican officeholders.
We could end up with a more rebellious Congress of critics of the handling of the whole issue, and make compromise between President Obama or even a President Romney having a literal nightmare dealing with the legislative branch! And we could end up with only a few votes margin in both Houses, making progress on ANYTHING extremely difficult!