The Debt Ceiling Negotiations and the Banking Industry

There is no satisfactory solution for the United States other than Congress acting to raise the debt ceiling. There are potential different paths that could be taken if that doesn't happen. But there is not a single thing that can be done that will save the United States from considerable economic and financial damage. We have to default on some obligation, whether it's treasuries or payments to Social Security recipients,. That's something America hasn't done since 1789, and we shouldn't start now.