President Obama has been haunted by some scary specters lately-House Republicans! They and Obama have been tussling lately on the details of raising the debt ceiling and the consequences of not doing so. Regarding the results of the debt ceiling not being raised, Salon has a better explanation that I could ever give; I only provide original graphics and meager commentary; I try to speak to a broad audience despite this being a niche concept (so far)! Obama and the Democrats are willing to cut some spending but insist on revenue increases IE: Tax increases OR as proposed cutting tax loopholes for "millionaires and billionaires". In several polls, 70% of Americans polled want a combination of spending cuts AND revenue increases, however many Republicans are intractable on this matter, no new taxes period. Many of them were voted into office on a wave of antigovernment, antispending, and anti-taxing fervor in the election of 2010. Oddly enough, sometimes you get the impression that Speaker of the US House of Representatives John Boehner , an old school Establishment Republican is being held hostage by newer, more extreme members of the house. This will be a real nail biter. If they don’t raise the debt ceiling in time, the US could get a poor credit rating-expect the possibility of a second recession, or worse!