comment: >
  
  The biggest owners of U.S debt are the American people who buy U.S government bonds.
  U.S government bonds are considered one of the safest, most reliable, least risky investments in the world.
  If the U.S defaults on our debt, we stop paying those bonds. That would ruin our credibility as a destination for the world's investment dollars. The bonds would lose their value overnight, which which would basically tank the entire U.S economy.
context: In short? It would quite literally cripple the economies of most of the Western World and cause severe short-term and long-term financial crisis. Just flirting with this stupid disaster in 2011 - not even actual default, just the idea that they could - resulted in a loss of billions of dollars. It's reckless, irresponsible, and incredibly dangerous to even entertain at the highest levels of government. >
  
  Well I mean its going to have to be dealt with eventually. Debt-to-gdp ratio has been increasing since like the 80s. So it should be a concern for the highest levels of government. >
  
  The debt ceiling should be eliminated entirely. It’s one of the most idiotic pieces of legislation ever passed. 
  Our debt is not something that needs to be worried about. >
  
  So when the country cant afford the interest and defaults anyway what's the plan? >
  
  …. The national debt does not work like your household budget. There is no risk of a default outside of the debt ceiling. None. >
  
  The US is obligated to payback annual interest on the debt it accumulates. It defaults when it cant make those payments. Repayment is going to exceed military budget soon and eventually compete with government mandatory operational budget. The debt ceiling legislation is just a stop gap to remind the morons in government of that fact. >
  
  The government will literally always be able to afford the interest payments, no matter how large they get, so long as the nation continues to exist. 
  Repayment is not anywhere close to the military budget or to the operational budget. That’s an absolutely absurd claim. 
  The debt ceiling is a completely useless thing that serves literally no purpose. The sooner we eliminate it, the better. >
  
  That is a factually incorrect statement. Interest accumulation rate is outpacing growth rate.
  And my question was what your POA was to replace debt ceiling legislation. As I agree that its useless because politicians ignore it. >
  
  Responding to your edit: there doesn’t need to be any replacement for the debt ceiling. It serves no purpose, it needs to be eliminated. >
  
  I'll just wait until they start shutting the government down for shits and grins like Trump did.
  But if they ever do anything do anything to stop Social Security checks from being sent or Medicare from being paid they will reap what they sow.
  and if Rick Scott thinks cutting Social Security is a great idea, I agree it's a great idea to get 95% of Americans to vote Democrat and see the GOP for the uncaring greed monsters and anti freedom villains they are. IMHO >
  
  If you thought 2008 was bad, defaulting on the debt will make that look like paradise. It won’t just effect america, either, it will cripple the global economy. You’ll see massive increases in poverty, which will lead to massive increases in crime. 
  No sane person would even think about defaulting on the debt. >
  
  Why exactly would that happen though?  Who do we owe the money to? China? Screw them, sorry. Come and get it.