[Logical me]

If Bonehead goes for increasing the debt ceiling he put the nail in the coffin for America. Somewhere in the future the Country will not be able to pay for the dept or even the interest. Then the crash will be more severe than it probably would be to do it now. Which will it be. A lesser crash now or total destruction with the continuing of the debt ceiling.

[Hojczyk]

Look at this

The hot news of the night comes from S&P, which has warned that there’s a 50% chance that the US will lose its AAA rating over the next 90 days.

Obviously the debt ceiling fight as a lot to do with this, but there’s more! It seems S&P specifically wants to see $4 trillion in deficit reductions, and if this debt deal doesn’t produce that, then the US might still lose its AAA.

There’s virtually no chance of a $4 trillion deficit reduction without severe cuts to spending or tax hikes, either of which could be very negative to the economy.