Every President is keen on making sure the default doesn’t happen on their watch. No matter that this has been coming since Nixon...whomever is holding the hot potato when it explodes is going to be blamed.
“No matter that this has been coming since Nixon...”
I must be the only one who remembers the question and the answer when Nixon took away the gold backing the dollar. Someone asked an economist what would keep the Fed from just printing off money without constraint.
He said it could but it would not “based on the sure knowledge it would destroy the dollar and the economy.”