Obama's Debt Ceiling Flip-Flop

The next major fight we're going to see in Washington will be over raising the debt limit. Republicans are dead set against it. And even President Obama *was* when he was a senator.

Sen. Obama voted against raising the debt ceiling in 2006. Now, he's changed his mind.

"He believes now that raising the debt ceiling is so important to the health of this economy and the global economy that it is not a vote that even when you are protesting an administration's policies you can play around with," Press Secretary Jay Carney said in the daily press briefing today.

Carney also said Obama now believes his vote was a "mistake" and he "regrets it."

Republicans say they will not vote to raise the debt ceiling unless the White House agrees to spending cuts. The showdown is set for July.

Going to be a HOT summer!