IT'S A LITTLE MYOPIC...

but at least the GOP is beginning to walk back from the brink of a default.

Congressional GOP Leaders Slowly Convincing Newer Members of Importance of Raising Debt Ceiling

By Reid Wilson
Updated: July 16, 2011 | 6:40 p.m.
July 16, 2011 | 5:43 p.m.
THE NATIONAL JOURNAL

As top Republicans face delicate and difficult negotiations with the White House, they are beginning a concerted effort to prepare newer members of the Republican conference to vote in favor of raising the ceiling. This coming week's most difficult task, some Republicans believe, will be getting their own freshman class to a yes vote.

McConnell has publicly made the case that a default will have serious negative political fallout for the GOP. In an interview on conservative talk show host Laura Ingraham's program on Wednesday, McConnell said Democrats "want to blame the economy on us and the reason default is no better an idea today than when Newt Gingrich tried it in 1995 is that it destroys your brand. It would give the president an opportunity to blame Republicans for a bad economy."

UPDATE: The LA Times also reports that some of the fanatics are beginning to understand the grave harm they could do to our country...

House Republicans brace for compromise on debt
GOP leaders turn to their most trusted budget expert, Rep. Paul D. Ryan (R-Wis.), to explain to the rank and file what could happen if Congress fails to raise the debt ceiling.
By Lisa Mascaro and Kathleen Hennessey, Washington Bureau

July 16, 2011

Freshman Rep. Steve Womack (R-Ark.) said the presentation about skyrocketing interest rates that could result from downgraded bond ratings was "sobering."

"It illustrates to us that doing nothing is unacceptable," he said. "I think the conference understands this is a defining moment for us. It's time to put the next election aside."