The position of the Republicans in the budget negotiations is an outrage to every responsible citizen in our republic. Let's get some facts straight:
The debt is money already spent
We owe it. For the Republicans to even threaten that America will flake on its obligations borders on treason in my book. At the very least they are taking an un-Constitutional position by trying to force our nation to skip out on its debts. See the 14th Amendment. This act alone strikes me as more than enough grounds for impeachment hearings on the lot of them.
Oh, and regarding taxing the wealthy....
Job creation is tax deductible
That's right. Every dollar that job creators invest in job creation is tax deductible now, and tax deductible even if the Bush tax cuts are repealed. It's the dollars that job creators keep for themselves that would be taxed. If they create jobs, they don't have to worry about it.
Comic: XKCD http://xkcd.com/512