Raising the debt ceiling

[AnCap Dave]

So I have ABC's This Week on, and this has been the major debate of today's episode. Right now, Christiane Amanpour is conducting an interview with Christine Lagarde. Both of them have talked about raising the debt ceiling as being an intelligent move and being the right thing to do. I know that raising the debt ceiling is only delaying the inevitable, and is just an excuse to put us in more debt and spend more money, but what other arguments are there for us to not raise the debt ceiling, and what would truly happen were the debt ceiling not raised? They talk about how not raising the debt ceiling would bring about chaos and what not, but I get the sneaking suspicion that this is just alarmist nonsense.

[MrBogosity]

You really need to stop watching stuff like that; it'll warp your mind.

How ANYONE thinks not raising the debt ceiling will lead to default and economic problems is beyond me. There isn't the FIRST piece of economic data to back that up. And the more we go into debt, at some point we'll reach the tipping point. No one knows exactly where that point is, but given how big the debt is already, if we keep going like we are it's more likely to be sooner rather than later.

[AnCap Dave]

You really need to stop watching stuff like that; it'll warp your mind.

How ANYONE thinks not raising the debt ceiling will lead to default and economic problems is beyond me. There isn't the FIRST piece of economic data to back that up. And the more we go into debt, at some point we'll reach the tipping point. No one knows exactly where that point is, but given how big the debt is already, if we keep going like we are it's more likely to be sooner rather than later.

I blame my dad really. He watches it, and then I can't help but notice the stupid that spews from it.

I figured as much when it comes to the alarmist nonsense they were spewing. Here is someone on Bloomberg talking about the "harm" of not raising the debt ceiling:
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