I just saw that on Friday, House Majority Leader Eric Cantor candidly acknowledged that the upcoming debate over raising the debt ceiling will be "a leverage moment for Republicans," who will use the negotiations to get some of the stuff they want from Obama. He also admitted, though, that the Republicans will eventually have to agree to raise the debt ceiling because the alternative is a U.S. government default. I don't know much about negotiation, but it seems to me that having admitted that he will eventually vote to raise the ceiling, he has already lost some of that leverage. So now we get to wait and see how it will play out.
Also, check out my earlier post about the coming debt ceiling debate.