Conservative Sen. Lindsey Graham, R-South Carolina, promised the newly re-elected Obama a "rude awakening" next year if the president forces through his plan for high-income earners to pay more taxes without agreeing to substantive steps to reduce the nation's chronic federal deficits and debt.
"In February or March, you have to raise the debt ceiling," Graham noted Monday on Fox News. "And I can tell you this: there's a hardening on the Republican side. We're not going to raise the debt ceiling. We're not going to let Obama borrow any more money or any American Congress any more money until we fix this country from becoming Greece."I think there is an outside chance that Obama will have no choice but to declare the debt ceiling unconstitutional, and the House GOP will impeach him for doing so.
Not a good chance, but a chance nonetheless.
UPDATE
Josh thinks this signals a government shutdown.
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