America Heading Towards Default

If the debt ceiling is not raised by Congress in the next week or so the United States Government will go into default or bankruptcy. This practically means that the United States will have no money and we will not be able to pay back debt or spend money because we will virtually have no money to do any of this with. This is just another issue that the government shutdown has brought upon the entire nation.
 

In my opinion it might actually be a good thing if America goes into default and we won’t have any money to do anything with. It gives Congress and President Obama a chance to get all of their priorities straight to make sure we get back on track. The downside about all of this is we will not be able to pay back debt that we owe to other countries especially China. This could all lead to back lash from these countries and who knows what they could do, if anything, to retaliate for not getting paid. Those countries might benefit even more because we would have to borrow more money over time to get America back on track if all of this goes through.

            This entire government shutdown and default scare could all lead to a trust issue that is already there to some extent. And in the 2014 and 2016 elections for new Congressmen and a new president it could all lead to a total overhaul of all three branches. It is not clear who is directly “winning” this battle over the national budget and it’s not evident if anybody is winning at all. All I know is that if we don’t get these issues resolved through compromise this could be a stressful and bad couple of months or years for all of us if this isn’t all settled in a timely manner.