The cognitive dissonance within the tea party is already notorious (I'll have more tomorrow morning). Yesterday, for example, Sarah Palin quoted Ronald Reagan during her remarks at the rally near the World War II memorial in Washington, DC yesterday. So if we're bringing Reagan into this fracas, let's see what the former president had to say about raising the debt ceiling.
"This Autumn, the Congress is faced with the unhappy task of raising the debt ceiling to over $2 trillion. But only a few days left before that deadline, Congress must realize that by failing to act, they're entering very dangerous territory... Never before in our history has the federal government failed to honor its financial obligations. To fail to do so now would be an outrage. And Congress must understand this and bear full responsibility." President Reagan, November 6, 1985
Typically, the debt ceiling votes were always held at the last minute, thus Reagan's plea to Congress to make sure to vote on it. The reason Congress would traditionally wait until the last minute was to make sure no one could attach any bizarre amendments to the legislation. That, of course, was prior to 2011 when members of Congress weren't so brazenly irresponsible as to hold it hostage, tempting a subsequent worldwide calamity.