More debt=higher interest payments=higher payments that must be paid to avoid default.
The current debt ceiling argument is great. The Dems are crying that people will die and Armageddon will befall us if it's not raised. The Reps are just saying they won't pass anything that doesn't cut bills, but they don't actually explain why. Why is that? Because most the country can't balance a check book and therefore can't understand why. So the Reps don't say it and the Dems are trying their best to ignore it. But I'll say it. I'll say it twice. Three times. Four or five. I'll take the facts of the situation, shape it into a weapon of verbal destruction, and aim it right at as many people as possible.
Ready? Probably not, but here we go regardless. Back in 2011 something happened that was unthinkable: the US lost the highest credit rating of AAA in many eyes and dropped to AA+. Most people in the US do not recognize this and claim our credit rating never dropped, but that doesn't matter when you have to borrow internationally by selling bonds or debt itself, like we funded the 2008 bailouts. So our credit rating is AA+, the second highest. However, we've been warned multiple times that this will fall again if we continue racking on debt. Why? Because of interest payments. At minimum, you have to make interest payments and our interest payments on trillions of debt are enough to break most nations itself, and any debt we take on raises the interest payments that we MUST pay or we default. This leads to a degradation of our credit rating as the country's buying power is reduced. This means we have two options for carrying forward with our monstrous amount of debt.
The first option? The first option and the option favored by those that can't do simply math or understand this problem is to keep borrowing because...why? Medicare and SS and some other stuff are promised funding regardless of the debt limit. It's the nonsense stuff like money to Ukrainian Nazis and to throw drag shows on military bases that's at risk, and why shouldn't it be? We CAN keep borrowing, to pay for garbage, until we can't even borrow to pay our interest payments and collapse in a catastrophic way that can't be fixed or not. If we keep borrowing, then at some point roughly 10 years from now, judging from the confluence of situations that are converging, we will collapse nearly overnight. That will be when Medicare and SS actually go broke and we won't be able to borrow enough to cover it, triggering a chain reaction and leading to the millions of deaths that the Dems want to pretend not raising the debt limit will cause.
The second option? Acting like we know at least a little bit. We have to cut spending, wherever possible, and we have trillions that can be cut without anyone in the US being hurt, except their ego and love for propaganda projects. The current budget and debt situation means the US is bankrupt. We've just not filed. As such, the current budget should be declared void and sent to the Supreme Court and they decide what is 'needed'. Money sent to Ukrainian Nazis and spent on drag shows for military bases should be the first two things cut, and at least 25% of the budget could probably be cut as waste and politically influenced pet projects. That's before tackling the insanely wasteful military budget itself that can't even attract talent that isn't ran off by barefoot people in rags.
At this point, everyone that has the ability should have at least one of three things started or going: chickens, garden, fruit plants. As more money is borrowed, inflation will continue going up. So even if they continue to borrow, it doesn't matter, because it just means things get worse faster. Those without the ability to produce any food at all for themselves will be totally reliant on what they can buy, beg, or steal in the coming years. None of those options look good. Prices on stuff will continue going up as debt devalues our money, reducing buying power, as has been happening for the last several years. Beggars won't get much when the people they're begging from can't eat themselves. And something like 75% of the country is armed, so good luck with stealing. Worst case scenario is a spectacular crash due to going insolvent after not making interest payments. Best case scenario is making the correct cuts to the budget to fix the issue without causing more social pain than can be prevented. But expect something in between, as what normally happens, which means someone is going down while someone else watches and everyone should get ready for pointless crying that nothing can be done about.
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