Let me type slowly and clearly. The Republican Party does not and never has cared about debt or deficits. They only care about taxes. The current round of negotiations proves that this has not changed. In the meantime the tax cuts that have been in place for the last ten years have accomplished nothing EXCEPT exacerbate the deficit. If they were the key to job creation, then no one would be complaining about current unemployment.
The problem with employment is unrelated to the current discussion. The housing equity bubble allowed both new home construction and consumer spending to continue well past their natural due date as the actual basis of our wealth, was carefully and deliberately relocated to China, India, Mexico and Brazil.
One other thing remains certain. No matter how you feel about the ability of tax revenues to create jobs, the idea that suddenly cutting off those revenues will do anything but make unemployment worse is sheer fantasy or (more likely) craven dishonesty. The Republicans know that their current threats are designed to make the economy worse.
The opportunity is here, to intelligently address these problems but the primary impediment to the whole process is centered rather firmly in the Tea Party wing of the Republican caucus. You would think that when the same organization that sunk millions of dollars into advertising designed to sink Obamacare, goes on record as opposing your negotiating strategy, that it would be time to reconsider, but ignorance and nihilism seem to be calling the shots and the moment.