If someone is looking for the unwonkified explanation of what the Debt Ceiling not being raised means, you’ve come to the right place.
Imagine the world is a casino, imagine for us to gamble, we must take out markers (loans). Now everyone in the world takes out these loans. (I am stopping now because I can hear the people now saying “Thats our problem, we borrow too much, we gamble too much. Shut it down!”) All I can say is, “Shut up dummy” Now let us return to my run down. So the world is a casino. We all take out markers to gamble. If we are a good customer, we can get better markers at cheaper rates. We even have some markers left on hold. We don’t get so hasseled on others. But if we walk into the casino with markers out and shut it down, this would be the outcome: First, the casino(world) would cut us off. Demand us to payback our loans now. Why would they not? We have showed that we are done. No need on keeping us happy. Also, no other gamblers (countries who invest in America) would want to deal with us either. We will be thrown in the bathroom like Coffee Cake and the Moosh in A Bronx Tale. Nobody would want us around. Why would they? We have proven we will not even pay our own obligations to our own citizens. Like social security, medicare etc. etc. So we would pretty much be a third world country. Which pretty much makes sense since our economy is leaning that way.
But if we raise the ceiling what happens? Nothing. We have done it each of the last six years. Bottom line: You can’t pay off the loans of America if the country isn’t working. You do not raise the ceiling…the country shuts down, and the world walks away from us as well.
So don’t let the right wing echo chamber or any right leaning dems fool you. They know what not raising the debt limit means. All posturing people. It is all posturing. Just like the budget deal was. No shut down was ever going to happen. So please stop with the tough talk about shutting it down and not raising the debt ceiling. You sound foolish. This coming from a guy named crap4face!