As to the debt limit extension timeline, I think the country would be much better off if the debt limit were extended beyond the next 6-months because we've had these short-term fixes before. We'll only be right back here again come January 2012. And judging on how contensious things are right now, I seriously doubt temperments or ideologies will change much between now and then. Besides, the markets needs some form of long-term stability as you can tell from all the complaints coming from both Wall Street, investors both foreign and domestic and business leaders.
I agree with donsutherland1; merge the best of both bills and you have a winner. Both bills are very similar. Neither raises taxes, one assures a cap is placed on military spending where Iraq and Afghanistan are concerned ensuring a commitment to drawing down both wars, and both go out to 2021. In fact, if you removed the call for a Constitutional amendment from Boehner's bill and the extended and expanded authority to auction licenes for the EM spectrum from Reid's bill, both bills would be virtually identical.