"The real fiscal Armageddon that this country faces comes not from a delay in raising the debt ceiling, but from out-of-control federal spending and government

"The real fiscal Armageddon that this country faces comes not from a delay in raising the debt ceiling, but from out-of-control federal spending and government debt. If a little pain now helps solve that problem for the long term, it may well be worth it." Great idea - you're pretty sure that everything will be ok if we don't raise the debt ceiling, so let's go ahead with it and just hope that you're right and it isn't that bad. The only real threat to drive up US interest rates is not raising the debt ceiling. With the stuff going on in Europe, we will likely have more people wanting to buy US Treasuries - not less. These guys are worried about an event that hasn't happened, and doesn't seem to be happening, so instead they're going to do the one thing that can actually cause it happen. Insane.