Uncle Henry,
Check out these 2 economics articles from the Von Mises Institute.  They show that we will not default even without a debt increase unless the administration simply chooses to not pay the debt service over discretionary spending.  And, all of this fuss is over 10 years which works out to maybe a 5% annual spending reduction.  Bottom Line:  Any deal that still raises the debt ceiling is still going in the wrong direction, but at least we can draw a line and hopefully come back and get real spending cuts when we throw out a lot more socialists in 2012!
 
http://mises.org/daily/5457/Lower-the-Debt-Ceiling
 
http://mises.org/daily/5463/A-Short-History-of-US-Credit-Defaults
 
Thanks.
Pete

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Hey Henry,

 I appreciate your advice and counsel more than you can know this morning Uncle. I as so many conservatives am all about leaving everyone else alone and living my life without affecting others as much as possible. I treat fellow "republicans" as family much as you would treat fellow Alabama fans and I would treat fellow Auburn fans. We treat their foibles as we would treat our own and love them as we would want to be loved. You reminded me once again that all Republicans are not conservatives. I have forced tmyself to remember Susan Collins, Lindsey Graham, and Olympia Snowe anytime I think Republican. As usual you are absolutely correct. Being a "Republican" does not qualify these people as conservatives and I need to be reminded of this repeatedly. (I play the role of Russell Crowe in "Hollywood Confidential". I need to be snapped back occasionally, but I am forever faithful.
 In the coming months and years we need to be reminded to be conservatives with a voice. We cannot trust the other side to play fair. They smell blood in the water and they intend to pounce on it. We must remember that we are the adults in the room and must act as such. It amazes me that Liberals can spew the garbage that they do and lay claim to it. We both know that they are wrong. They need to be corrected. We need to inform all those we care about that the country is going downhill fast and it is our job to save it.

Let's do it Henry!!

Tommy