In the last week I've read at least four syndicated columns which contained the following argument: were the Congress to resist raising the debt "ceiling," the full faith and credit of the United States Government would be endangered. The financial system would inevitably crash; investors would send their capital to other safer, more stable havens; depression would follow. Since I am an inveterate skeptic, I feel we must investigate this calamitous premise a bit before accepting the conclusion that the debt "ceiling" must be raised. To predict the outcome of not raising the debt "ceiling," let's model the nation's current...