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The idea seems to be that if the House GOP refuses to raise the debt ceiling, a default crisis or gradual government shutdown will ensue and the public will turn en masse against Barack Obama. Republican House had failed to raise the debt ceiling which somehow escape all the blame. Then Democrats would have to choice but to pass a balanced budget amendment and reform entitlements and the Tea Party hobbits could return to middle earth having defeated Mordor. This is the kind of crack political thinking that turned Sharron Angle and Christine O'Donnell into GOP Senate nominees.
-- John friggin' McCain

Of course, he 'borrowed' it from the Wall Street Journal Op-Ed page, but still. He said it on the House floor.