Or we could just default, go through a sharp, quick recession, and move on. The only scenario in which the economy gets ruined involves very many bad misteps by the government (which is a possibility, observe what Europe is doing right now). The debt itself is only one thing, and won't ruin the economy by itself.
The way that is worded, it is obvious you have no clue. A default on our national debt, means that nobody will buy US treasury bonds, which in turn means that our money would become worthless. You are right in the sense that it would be a sharp fall into a recession. However, it would be followed quickly by full on depression that would last for decades. Why decades? Go ahead and default on your car or home loan. Then see how long it takes your credit to recover. A national debt in and of itself isn't a bad thing, but when that debt grows to the point that you can't pay it back, it will ruin an economy. Especially one like ours that outsourced a huge portion of our manufacturing.