House Republicans are already preparing to capitulate to Barack Obama on tax increases. When he rejects that offer, then they'll come back with tax increases and another increase to the debt ceiling, providing him everything he wants. In addition, John Boener and GOP leaders are removing fiscal conservatives from their places on House committees. This is all just more evidence that the GOP is dead as a conservative party. So let it burn.
But what does "let it burn" mean? Well, I think it means different things to different people, so I'll explain what I mean, and you can chime in in the comments (hint, hint).
First, "let it burn" does not mean a complete disengagement. If it looks like things really can be turned around, we have to be willing to rush to the point of conflict to turn things around. However, it does mean not spending one more minute defending the Republican party. Not one more dime sent to the RNC or any Republican incumbent.
It also means disengaging, as much as possible, from the coming economic collapse. Taxes are going to go up. Growth is already anemic, and higher taxes will just cripple the economy further. This means a collapse is very seriously nigh, and we must be prepared.
We must be prepared for the collapse itself. This means making as sure as possible that you have the means to take care of your family during the collapse. Form informal groups and cooperatives with others, banding together to see your families through the tough times ahead. I have a family farm I hope to have operational before the collapse, if it holds off long enough. Food, shelter, and clothing are the most important things you can secure. If you can do that through a job that pays well enough, that's fine. If you can't, then you need to find a way to provide those things.
We must be prepared for the possible societal collapse. That sounds alarmist, but it is an entirely possible consequence. Over 51% of the voting public in the United States voted for Barack Obama, who promised them no end to their free stuff. Once the economic collapse comes, their free stuff goes away anyway. With luck, enough progress will be made politically that "the masses" will be willing to wait for economic relief. If there isn't, then our Society, with 60+ years of class warfare rhetoric, 40+ years of racial warfare rhetoric, and an especially divisive President is ripe for societal unrest. Part of being prepared for that unrest is the same as being prepared for the economic collapse. Food, water, shelter. Add physical safety and you're okay. Another part, though, is being ready to lead. Which leads us to the third thing we have to prepare for.
We must be prepared to rebuild. Whether "just" an economic collapse, or a complete societal collapse, those who have prepared are most likely to come out of the trouble in a better situation. Their preparations will give them advantages over their unprepared neighbors. This means those unprepared neighbors will look to them for relief. Those neighbors will either look to the prepared as leaders, or as targets. If properly prepared, we can be seen as leaders and guide the rebuilding.
Let it burn is as much a path and strategy as anything. It requires preparation and commitment. It is not simple resignation and a complete disengagement from the economy, society, and culture. It is an acknowledgement that "it" is going to burn anyway, and a prioritization of limited resourced based on that realization.