But we're not going to default on the debt. You don't really still believe that, do you?
as the dollar sinks the price of oil increases
Correct. Making it even more profitable to drill here.
as well as interest on the all ready existing US debt
No. Interest rates on existing debt remain the same. New debt? That's a different story.
Look. The dollar has been overvalued for decades. That, combined with eternal inflation, is what has led to our chronic trade deficit. It's cheaper to buy foreign goods than to make them here.
Now, I wish we weren't in the crisis that is causing the dollar to drop and there are certainly bad aspects to it, but it isn't a disaster, either. Though it will certainly be portrayed that way.
As I say its madness I also know its impossible to reason with the insane...;)
I have no confidence in our so called leaders of both parties nor in the idiots that keep electing them..