I know I'm beating a dead horse at this point, but I continue to be mystified by what the base, the activists, and the politicians who are pushing the "no new revenue" stance hope to accomplish.
Let's start by pointing out the obvious: the Democrats do not show any signs of caving. They have offered what seem to be very attractive deals, and been turned down. Think you're going to get a more attractive deal? Every time another poll like this comes out, your bargaining position gets worse. Moreover, in Washington, deals take time. Even if Obama and the Democrats caved right now and gave the GOP massive entitlement cuts in exchange for raising the debt ceiling, the government would be hard-pressed to hammer out the details, draft them into legislative language, get the CBO to score the cuts so you know that they're real, and then whip the votes to get the damn thing passed. Every day you wait makes it less, not more, likely that you can get any deal at all.
Maybe you think the deadline is artificial and Treasury is just exaggerating. I have been very much less than impressed by the arguments I have seen to this effect, because most of the people making them seem to be under the impression that on August 2nd Treasury can just start playing accounting games, when August 2nd is in fact the date when Treasury says it will have exhausted all the accounting games that we've previously used to finesse the debt ceiling. But even if it were true, so what? How does extending the crisis another month get us any closer to a deal? What's going to change?