Not raising the debt limit does not result in default.
The Treasury still has $240 billion coming in every month --more than enough to fund the debt, support the military and write social security checks. The so-called "non-essential" employees who are told to stay home after every snowfall would probably have to be laid-off and some governmental programs suspended.
But wouldn't that be a good thing...???
It doesn't even take a snowfall anymore. There was a forecast of snow around D.C. yesterday, and employees were allowed to take leave. There was no snow. There was no rain. It was overcast, though. I wore a t-shirt and jeans to the grocery store during the predicted peak of the "storm."
“Not raising the debt limit does not result in default.”
Let’s ask a more basic question: why is default a “bad” thing? Have you seen the benefit from this profligate spending? Has your family? If not, then why should you yoke yourself and your future generations to a debt that fundamentally CANNOT be paid off?
If your drunken neighbor spends all his money, gets foreclosed on and ends up in the street as a result of his profligacy, are you responsible to spend the rest of your life in debt to buy him a new house and support him? If not, then how is this any different?