Keith Hennessey proposed a debt ceiling plan for republicans, which wisely begins by saying not increasing the debt ceiling makes little sense. However, he goes on to say the following:
Congressional Republicans offer Mr. Obama a choice. He can have a long-term debt-limit increase if he agrees to cut spending, or he can have repeated, short-term increases without spending cuts. If the president continues to dodge the country’s long-term spending problem, the solution is to force him to ask Congress every few months to give him the authority to borrow more while facing questions about why he refuses to restrain spending.
If Hennessey thinks Republicans don’t have leverage this time around, why should they have any leverage for any future extensions? If they never will have leverage, it stands to reason that the President doesn’t need to give anything up. Maybe I’m underestimating the cosmetic issues regarding yes votes for routine debt ceiling increases, but it really doesn’t seem like Republicans have much leverage now or in the future on this issue.