We are coming to a cliff. Either we raise the debt ceiling, reduce our deficit or default on our obligations. If we continue to raise our limit, it is meaningless and we haven't leaned anything. But likewise, it could be a catastrophe. Should we make cuts right away and apply them to the deficit so we can show the world we are serious about our debt, ganing world confidence again? Negotiate cuts to pass them right away? Or have a showdown in Congress and with the Administration? Or take the easy route and just increase the limit. Or a combination? Let's debate.