Another reason to declare a debt ceiling, especially for the Treasury Department, is inability to service debt load. Accounting for have to immediate expenditures salaries, retirement, medicare, etc. leaving the balance to pay debt service may very well mean that 18 some trillion dollar figure. Doesn't mean it won't be paid but when? I would suspect the investors at zero percent will be given an automatic roll over to protect the principle (keep it in government hands) then it 's a question of which pig dis more equal. Does not bode well for the retirement funds and medical funds for the elderly. Pulblic Employees Retirement Funds, Union retirement funds, Soros and Buffet's three week T bills. the next step would be complete debt repudiation. No you don't have this benefit or that level of retirement pay any more. We refuse to recognize it. Followed by complete repudiation of investments in Government bonds.

This also means simply cranking up the printing presses inked oor digital ,l won't do any more. Old Mother Hubbard's Larder is bare and so is her cupboard - unless they sell off or pay off in take it or leave it land.

Of course they could stop taking AF1 for dinner dates in Paris. But would they?