I came across a very interesting quote today. Should the US economy either enter recession or fail to improve before the 2012 presidential election (both safe bets) the president "owns" this economy.

I'm not a fan of Obama, nor of Bush nor of any of these political "leaders." I throw that caveat out because my goal is not to get into any political discussion on this site. So here is the interesting quote from Republican Mitch McConnell

"The reason default is no better an idea today than it was when Newt Gingrich tried it in 1995 is that it destroys your brand and would give the president an opportunity to blame Republicans for a bad economy."

The president and the Democrats have an "opportunity" to go for big cuts and say they both fought for the future of America and the Republicans are to blame for the economic weakness. I honestly never thought the debt ceiling would not be hiked until today. Political gain at the expense of an "unforeseen emergency." The odds in my opinion have gone up significantly.