I don't want those clowns increasing the debt a single penny. How immoral is it of the USA to hand 17+ trillion dollars in obligations to future generations?
Increasing the debt limit is to pay for the things the government has already bought. Its a big deal and will probably destroy global economic markets if we even get close to the deadline and threaten not to pay.
Do you want your country to have shitty credit? This will be the end of the USA as the economic center of the world and every asset you own will be significantly devalued.
Other countries have a procedure in place if they default on their treasury notes, we don't because no one as ever thought that people would be stupid enough to let that happen.
If you're worried about the debt, think about what our debt would look like if we HAD TO BORROW MONEY (treasury notes) AT A SIGNIFICANTLY HIGHER RATE!
Edit: And yes its true the deficit has actually been cut in half under Obama. The deficit is the difference between the money Government takes in, called receipts, and what the Government spends, called outlays, each year.
There was a surplus under Clinton.