If I were negotiating raising the debt limit, I wouldn't risk the U.S. having a default

[Tony_FLADEM]

I would give the Republicans 2 trillion in spending cuts without tax increases to get the debt ceiling raised. These fiscal policies can always be changed later on. On the other hand, a default by the United States may take many years to recover from. The Democrats have already won the public relations battle. Most people agree with the Democrats on this issue. They should use this advantage to win enough seats to modify this deal later on. That's what I would do.

[Cool Logic]

1. Defaulting is not an option--we must pay our bills in accordance with the 14th Amendment.

In this case, the bills are the bonds and the interest on the bonds. Since we hit the debt ceiling, the treasury has taken in 20 fold what it needs to pay our bills.

We have more than enough money to avoid default; however, we do not have enough money to fully fund each and every, day to day government entity.

http://www.fms.treas.gov/dts/index.html

[Pholus]

2. Okay, I'll play the GOP. No deal and you are a stinky-breath Mooslim to boot! What now?