Republicans claim that they should be rewarded for conceding that the debt limit should be raised at all, because their ideal policy outcome involves not raising it, end of story -- and that there's enough money coming in to cover the essentials, defined as Social Security, Medicare and Medicaid, salaries for the military, and then debt service to avoid a default. The problem? This is nuts; it would mean that the entire remainder of the federal government would shut down. Liberals have been making the point for weeks, but so have plenty of responsible people from every spot on the ideological spectrum, and I think Megan McArdle today has the best list yet of some of the specific effects. Highly recommended.
Remember, there's a big difference between opposing an increase in the debt limit unless certain negotiable conditions are met (perhaps irresponsible, but hardly unprecedented), and a claim that the debt limit should nevernevernever be increased and that no harm would come of keeping it where it is for good.
(Via Drum, who also has a good post on Michele Bachmann, the leader of the nevernevernever caucus).
Oh, and -- nice catch!