I’ve heard it explained by economists like this:
Imagine your bank won’t give you another credit card and all your cards are maxed out. But you still have your pay check coming in every month. Not getting that additional credit card does not mean you can’t pay your mortgage, you still have a paycheck with sufficient funds.
So raising your “debt limit” doesn’t automatically mean default.
Perhaps it’s time for Fedzilla to live within it’s means.
The democrats keep saying that America can’t be known as the nation that dines and runs but their only proposal is to order more, keep eating and hope the restaurant never closes.
Basically do what Detroit did.