[quote=SK in CV][quote=livinincali]
The bottom line being the media and analysts are lying when they say not raising the debt ceiling means a default. No, it just means there’s an immediate and large cut to government spending.[/quote]
It also means a severe recession. A spike in unemployment. Probably a depression.[/quote]
No disagreement on that point. That is very true. The question is don’t we up up there eventually anyways. How big can the total debt get along with changes in the interest rate before you are actually facing default because you don’t have enough money to keep essential government functions going along with paying the interest on the debt.
