Harry Reid recently called Eric Cantor “childish” over the debt ceiling debate. However, it is becoming increasingly clear that Cantor may be one of the few grown-ups in the room.
On the National Review Online, Robert Costa has written an article [1]detailing some of the recent discussions surrounding increasing the debt ceiling. Clearly, the President and his Democratic cohorts are still stuck in the antiquated idea that raising taxes automatically raises revenue. This viewpoint is incredibly short sighted when one considers that when the government taxes the big, bad rich; the poorest and most in need Americans are usually hurt the most. As a matter of fact, there are instances where raising taxes could actually decrease the overall revenue taken in.
The only way for the country to avoid default is for the President and his Democratic allies to “eat their peas” and support spending cuts with no additional tax burden on the American people. That would be the grown-up thing to do.