With bond ratings agencies threatening to reduce our rating and Fed Chairman Bernanke warning of "a huge financial calamity," Sen. Graham now admits that the Republicans have painted themselves into a corner:
" 'How many Republicans have been on TV saying, "I am not going to raise the debt limit," ' said Mr. Graham, including himself in the mix of those who did so. We have no one to blame but ourselves'.”
http://www.nytimes.com/2011/07/14/us/politics/14fiscal.html?hp
So, what do the Republicans do? Sen. McConnell says that the party will suffer more at the polls if they don't reach a face-saving compromise, and of course the country will suffer more as well. But how does the GOP leadership convince the rank and file to violate their pledges, knowing that primary opponents will use broken promises as a weapon?