In the unlikely event that the debt ceiling isn't raised, the government will need to decide which debts not to pay. I imagine it won't want to default on any b

In the unlikely event that the debt ceiling isn't raised, the government will need to decide which debts not to pay. I imagine it won't want to default on any bond payments, so that will leave any non-bond payments such as federal wages, medicare, medicaid etc. In addition to this, the US credit rating is likely to fall, and potentially confidence in the dollar. If the value of the dollar decreases then this will lead to imports becoming more expensive, leading to inflation.