Recall the old saying: Be careful what you wish for. In the struggle over raising the debt limit, it applies to President Obama as well as to congressional Republicans.

Obama wants an increase in the debt limit of $2.4 trillion, which would provide the government with enough money to last through the end of 2012. For him, there are enormous risks in gaining the authority to borrow this much money and adding to a national debt of more than $14 trillion. And the $2.4 trillion would come on top of nearly $4 trillion the president has already added in debt since he took office. That’s $6 trillion-plus in new debt in one presidential term.