If the debt ceiling is not raised, the US will not have to default. The US will have to have a balanced budget.
Look at this blog by this economist:
The debt ceiling is such a laugh. Why have it if we keep raising it?
JLS~:” If the debt ceiling is not raised, the US will not have to default. The US will have to have a balanced budget.”
“You never want a crisis to go to waste...”- Rahm Emanuel
Since when has Barack submitted a balanced budget that passed any house of congress..... NEVER !!