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Debt-limit fight takes shape: Will Mitch McConnell ever be satisfied?

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J. Scott Applewhite/AP

(Read caption) House Speaker John Boehner (R) of Ohio leaves after a photo session with members of the new 113th Congress that convened Thursday in the Capitol in Washington. Republicans have promised a fight over the debt limit in the new Congress.

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[Editor's note: Updated at 1:07 Eastern time.] Remember the "fiscal cliff" – that Armageddon of spending cuts and tax hikes that threatened the send the US economy back to the age of stone tools and woolly mammoth pelts? Well, if Washington is to be believed, that was just a warmup act.

The latest word from inside the Beltway is that Republicans are girding themselves for a fight on what might be called the Fiery Chasm of Fiscal Doom:

 
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