Comment Re:I will go a different direction (Score 1) 696
The debt ceiling is directly related to the problem of endless borrowing and spending of both parties. Capitol Hill understands that it would be better to default, pay higher interest rates on borrowed money, in an attempt to slow down overall spending because it will cost more to do.
Defaulting is the best option because future borrowing costs would soar, forcing the govt to immediately begin to live within its means. Yes it means gloom, despair, and agony on all of us for an indeterminate period of time. Better that that implosion of the US when we can no longer use the dollar to buy imports because no one will accept it. When that happens you will wish we HAD defaulted.