If we fail to raise the debt ceiling we will not have the dollars to pay on our obligations. We owe $12.09 trillion dollars and must pay interest on that debt. If we default on our borrowing, our credit rating will tank, affecting our position in the global economic market. So, we have no choice but raise the debt ceiling. Either a creditor goes unpaid, or we go without something we need. Why We Must Raise the Debt Ceiling… : ThyBlackMan.com We do have a choice, we can default our borrowers, let the credit rating tank. So what then? Like other countries who have been delt this debt-kneel, the IMF steps in and corrects the situation. This thread isn't about cutting debt, it is about going into default and what happens next when Humpty Dumpty takes the fall. Other countries have defaulted and have been saved by the IMF. Maybe it is our turn to consider this alternative. Most importantly, it doesn't last forever. For those who oppose the WTO and global markets, this would be a god send to shutting down global trade and rebuilding America with new businesses willing to trade inside the United States.