It certainly seems that way, doesn't it. Like the government was a person or corporation. You have lots of company with this kind of thinking. You can at least take pleasure in that. You might want to toodle on over to post#39 in the thread "The Risk of Rising Inflation" , this same "Economics Forum."
Actually, it seems like if nothing is done and the two parties cannot come to some sort of Middle Ground then potentially not doing anything might lead to a default. Money can of course always be printed but I do see how inaction can actually mean that important necessary steps aren't taken in time. It's like if you forget to pay your bill on time. You may have lots of money in your account but not using it to pay off your credit card does lead to consequences.
There should be an age limit for US presidents. 75 should be the maximum age one can run for the presidency. And for anybody above the age of 70, a test for Alzheimer's should be mandatory and a negative test result should be now one of the eligibility requirements.
Yes. Doing nothing will lead to, at first, sequestering, i.e., delayed payment of certain obligations. By the Time Senators stop getting paid they'll decide it's time to act like adults. Money Can Not always be printed. Not legally. Congress must approve. If the Republicans filibuster to prevent the U.S. from paying its Bills, the Treasury will selectively pay on debts to avoid going over the artificial "debt" limit Congress has created. The U.S. is debtless, but the amount of "outside" or "base" money it can create and spend into the economy is determined ultimately by Congress. We call the net total of new outside money we have created "the national debt", but of course it is not "real" debt. It is nothing like private sector debt which is very real.
First payments that should be deayed should be the salaries of the politicians. Preferably starting with those who cause the problem by refusing the vote to avoid the default.
They will print new notes to fill their pockets. Only regular people, especially those with fixed incomes will suffer.
Biden and the Democrats have a plan to help those in need, who, in turn, can then contribute. Trump's tiny brain cell could only manage to enrich the elite, and trash the US economy by borrowing when there was no need to. Unless dumb 'Murica gets educated, Putin wins in 2024 like he did in 2016. If you think GOP are anything other than a bunch of disgusting self serving con artists, and morons, please try to get enlightened. I will never again stay in the US, it has been trashed as Putin awakened and empowered the worst of your nation.