So......what exactly happens if the US can't raise the debt ceiling?

[Cookiegerard]

well...North Korean might unite with the South, take over most of Asia, invade America, and irradiate the Mississippi river..

 

[Booze Zombie]

Remember World Wars 1 and 2? People fighting for resources... or just all of the modern systems holding the place together crash and everyone turns into chaotic fools.

 

[THE_NAMSU]

I'd say America should bring troops back etc etc, but it has to raise taxes on companies. They make massive profits and I don't see the point in letting retailers make so much profit off sweatshops and close to slave labour (like Nike, and Tesco in Britain).
Of course not every company does that, but they still need to be taxed. What difference will it make if someone like Bill Gates looses the extra million dollars when he has billions? IF they have profits even in the low billions, it is still quite a lot (Profits is after payment of employees and manufacturing and etc yes? Correct me if I am wrong).
EDIT: Even after that, I don't think America's (more like "the world's") economic system will advance, and will end up in permenant decline. Consumerism is not sustainable.

 

[FuktLogik]

You're all screwed. China already owns a large portion of your infrastructure. To put this in perspective, you say the national debt is around 14 trillion? Around 1.3 trillion of that is owed directly to China. The only way America can weasel out of this one is by finding a large deposit of rare earth minerals on it's own soil, or something of equal worth.

 

[gbemery]

I remember a month or two ago everyone screaming about the government shutting down. Yet we've done that before and it wasn't the end of the world.

Anyone know?

Well then obviously you aren't a government employee who when the government shuts down you don't have the worry of when your next pay check is coming.