Remember the debt ceiling debacle of last summer, and how the Teanuts were directly responsible for the downgrading of the U.S.'s credit rating? Remember the supercommittee and the compromise, and how it almost killed us dead? Remember how the whole ordeal managed to confuse P.Krugz? Remember the super-secret Christmas debt ceiling increase? Man alive, those were good times, weren't they?!


Well, gird your loins, comrades, because Debt Ceiling Shenanigans Part Two: Electric Boogaloo is upon us, and President Obama came out swinging today, telling John "Orange Julius"*** Boehner and Eric Cantor the Clown that he will have none of their bullshit, thankyouverymuch.

From Talking Points Memo:

In a major escalation of a slowly building fight over funding the government, the White House has warned House Republicans, in no uncertain terms, that the government will shut down in September if the GOP does not adhere to an agreement they cut with Democrats in August during the standoff over raising the nation’s debt limit.

“Until the House of Representatives indicates that it will abide by last summer’s agreement, the President will not be able to sign any appropriations bills,” writes Jeffrey Zients, acting director of the White House’s Office of Management and Budget, in a letter addressed to congressional appropriators Wednesday.

The message is simple: The government will shut down just ahead of the 2012 presidential election if Republicans break faith with the debt limit deal.

~snip~

The development sets up a confrontation between GOP leaders and their right-leaning rank and file members, who will rebel if Republicans blink and adhere to the debt limit caps. It could also force the GOP’s presidential nominee to choose between supporting his party’s conservatives, and abandoning them, fracturing his coalition.

Faced with a government shutdown one month before the election, and a public primed to blame the GOP for that outcome, Republicans will be under enormous pressure to back down.

Well slap my ass and call me Suzie. It's almost as if President Obama knows what he's doing!

Strap in, y'all. It's gonna be a bumpy ride.

[This post via smartypants is well worth a read.]

***h/t Zandar.