The point that the Republican party seems to miss, and that the Democratic party hasn't got across to the public, is that the purpose of lifting the ceiling on the national debt isn't to allow President Obama to spend more money. It's to allow the government to borrow to pay Congressionally-approved bills that it's already run up with full bipartisanship. (The 2011 budget was approved by 60% of the House Republicans and 42% of the House Democrats.)
I have this delightful mental image of Congress collectively going out to dinner at a white-linen restaurant, and gorging its way through the menu from the appetizers through the lobster entree and the after-dinner drinks, ending with desserts. Only after the check arrives, which they can't pay because their credit cards are maxed out, do they argue about whether it was the appetizers or the desserts that pushed the tab out of reach.