[dgit]

I didn't find his reasoning in favor of raising the ceiling very convincing. It's just saying "these people are in favor too", and it's all the usual suspects with vested interests. That doesn't make them wrong but just not very convincing.

What does make not raising the ceiling very convincing is that it's called a 'ceiling' and it's not a ceiling if you raise if every couple of weeks as seems to be the fashion, it's been put in place by wise men of the past to keep repeating previous mistakes and Greece shows what happens if you don't have a ceiling.

[teyc]

For the people living outside of the states whether you raise the debt ceiling or not is only an intellectual spectacle. If you live inside US, you better thoroughly think it through.

From a historical standpoint, countries that default on their debt go through a very tough time for decades.

For the US, the loss of prestige of the US dollar will signal the permanent decline of the US in its ability influence the world in its favour. Large sections of US industry is funded by military expenditure, and many of these sectors face a decline and downturn. While on the other side, the US may find a lot of countries building nuclear capability when the US is in such turmoil.

As noted, I don't live in the States but I live in a country that is friendly towards the US, and I don't want harm to befall on your country.

[dgit]

Both of these: > ... ability influence the world in its favour > ... military expenditure ... face a decline and downturn

are not necessarily bad for people inside the US either.

[teyc]

Influence is like a rudder. Without a rudder, you are at the whim of the high seas.