Do you think the US will default on the debt?

[OmahaBlueDog]

..and what, if any, consequences do you envision in the event of a default? Are there any consequences of a debt ceiling increase?

[Drale]

1. No, if it comes right down to it

The President is just going to declare the Debt ceiling unconstitutional and ignore it.

[OmahaBlueDog]

2. That will fuel the call for a balanced budget amendment

How quickly one could pass is another subject.

[Ozymanithrax]

3. I think that Obama will claim defaulting on the debt is unconstitutional...

and pay the debt with money created by the FED it Republicans insist on playing chicken.

The House will get its panties in a bunch, but will not take it to the SCOTUS, because they they don't really want to cut the feet from under the various bankers that hold U.S. debt and would take a hit.

The Teaparty will have another tizzy.

[OmahaBlueDog]

5. I think that may be how it plays out, but...

if it does, and the GOP can't get a Balanced Budget Amendment through Congress, Republican governors and state houses will start pressing for a Constitutional Convention to get the amendment in that way.

You are correct.. The House will get its panties in a bunch, and the Teaparty will have another tizzy.

[pansypoo53219]

4. republikkklans are that bad right now.

don't expect them to do right by US or their masters. it's tea bag time now.