As deadline looms, debt ceiling drama continues in DC

In today's episode of DC's debt limit drama, we'll see several of the more extreme House GOPers having a hissy fit in front of the White House. As we all know, if they were really serious about their cause, they wouldn't be having their little fit. They'd handcuff themselves to the fence. There will be more theatrics in the House when GOPers hold a vote on the so-called "Cut, Cap and Balance" bill. Here's a brief descriptor from Karina at Leader Pelosi's blog:

The Republican bill (the so-called “Cut, Cap, and Balance Act”) is really a bill to Cut, Cap, and End Medicare. Not only does their legislation end Medicare while extending tax breaks to big oil, it also holds the debt limit increase hostage to passing a ‘Balanced Budget’ amendment to the Constitution

End Medicare. Hold hostages. That's the GOP agenda.

This is all a backdrop to the deal being developed in the Senate to prevent the Us from defaulting. And, time is running out:

Senate aides say a fallback plan to give President Obama authority to raise the $14.3 trillion debt limit will soon become “plan A” for averting a national default.

Publicly, House Speaker John Boehner (R-Ohio) and Senate Republican leader Mitch McConnell (Ky.) have made votes on the Cut, Cap and Balance Act and a balanced-budget amendment their priority this week.

But GOP aides say the leaders are already looking past those votes to a potential deal with Democrats to raise the debt limit before an Aug. 2 deadline and spare Republican lawmakers from a political backlash.

“McConnell is going to let cut, cap and balance have its vote and then immediately move to plan B,” said a GOP aide in reference to the fallback debt plan McConnell is negotiating with Senate Majority Leader Harry Reid (D-Nev.).

So, Senator are trying to move ahead. But, the House GOPers aren't showing any signs of going along.

We're all going to feel the financial pain if this doesn't happen.