Refusing to raise the debt ceiling is not, as some Tea Party leaders present it, like declining to take out a new credit card; it’s more like taking a pair of scissors to the credit card you already have and ignoring the unpaid balance. This doesn’t just fail to solve the problem; it makes it vastly worse by destroying your credit rating and ensuring higher interest rates for existing bills.
For further political comment, see What Would Eisenwhower Do?
Circle and Square 