The economic ignoramus here takes a stab at the realpolitik of the debt ceiling, I have to admit she’s 100% correct about the politics;
“…schools and other government agencies facing budget cuts tend to immediately slash something high-profile and politically popular. That’s how you get them to reverse the budget cuts.”
via How to Deal With the Debt Ceiling – Megan McArdle – Business – The Atlantic.
What The World Needs Now Is Default
Remember, the game of the big commercial banks, central banks, and the IMF and World Bank is to get control of the entire world economy so as to do 2 simple things; 1) Run all commerce and trade through their books so they can profit off of every transaction by every single person on earth, regardless of the economy, and; 2) To juice economies around the world( by issuing bonds to governments, and inflation by central banks and fractional-reserve commercial banks) to increase the flows from which they skim. It is why, for instance, “conservative” governors have been elected in the US to try to balance state budgets – not to help the poor state taxpayer, but to keep the bonding party going. That is why ALL levels of government must DEFAULT.