They are going to make a deal, probably a very bad one, and raise the debt “limit”. I don’t like it, but it is going to happen.
What I’d like to see is someone on our side say, “Okay, fine, you say we need this ONE more time. How much? And don’t come asking again next year. Y’all keep talking ten year plans and such, now it’s time to put “your” money where your mouth is. How much farther do we need to go in debt before we start turning things around?”
Of course, next year (if we made it that far), all would be forgotten and Timmy! would be telling us about how it’s irresponsible to pay your taxes, sorry, not to raise the debt ceiling (or should we call it the debt floor the way things are going).
So here’s what I really want. You want debt limit raised, you get a Constitutional Amendment passed which takes the debt limit out of the hands of Congress (without thinking too much about this, my instinct is require vote of 2/3s of State governors to approve any future increases). I know, that takes time, so maybe a small increase once the resolution is approved by Congress, with a promise of another increase after the States ratify.
what good is raising the debt ceiling if no one has any confidence in your bonds!!!!
would any sane person/company/country wanna buy US debt at this stage? it would be like giving crack to a junkie and expcting the junkie to pay you back.