It seeems like we’re missing something here......... is it China?
I don't know if it's China, but this crisis is going global. There have been several reports of big European banks in real trouble in the past couple of days. The economy of many European countries is not healthy (socialism coming home to roost). Those countries are not in the kind of financial shape to withstand a big hit. We'll muddle through and have the strength of our military for protection. They do not.
If economic meltdown occurs in Europe with ensuing civil unrest, the situation could turn very ugly. Russia's probably licking its chops.
Bush and McCain know this. I think the realization is dawning on Congress.
This goes beyond whether someone can pay their mortgage or get a student loan or may suffer a hit to their 401K. Economically weak and unstable countries sometimes make very unsavory allies who promise to help or become targets for coups or invasions.