Having one's cake and eating it too

The President gave a speech last night about this debt limit business.

What does it all mean? I am not referring to the speech, you can get that from the talking heads below:



No. What does it all mean? I think it all means that you have to pay for what you get. If you want all these government programs, you are going to have to pay for them. The Democrats won't cut these programs. On the other hand, the Republicans will because they don't want the Big Liberal Government that the Democrats want. So, it all means higher taxes because borrowing has been maxxed out. If you can't bring yourself to accept that something has to give, then you will not do anything about it. The final result will be a dollar collapse and hyperinflation. This must be addressed somehow. Either by drastic cuts in government, drastic increases in taxes, or a combination of both.

Neither side will budge off their basic positions. That's like trying to have your cake and eat it too. It won't work. Something has to give. And it will.

Update:

If Obama's claims were correct, and the reports seem to indicate that at some of it was true, then they were 400 billion apart on a grand bargain.  Just find the 400 billion in defense cuts and you may have a deal that is hard for Dems to refuse.  It would be giving in on a Republican issue that would obviate a tax increase for now.