What If the us defaults the debt deal?

If the US defaults, its credit rating won't be as good as it is now. This means the interest rates on its loans will go up, meaning it will have to pay more money each month.

In turn this will make taxes go up for everyone, and may cause further cuts to other services. Companies will then pass their higher costs off to consumers, so the price of everything will go up.

It's a pretty serious problem. Raising the debt ceiling will allow the US to continue making payments on time, and is really the only option here. Until now, it's never been a problem. Both congress and the senate have always complained about doing it, but in the end they always came to an agreement to do so.

This time, however, the republicans in the congress have decided that if they don't get their way on ALL their demands, they're going to do the political equivalent of holding their breath like some temper-tantrum throwing two year old. Yeah, real mature republicans. Meanwhile, Obama's proposed budget plan has already won approval from a vast majority of American voters - including republican voters. So honestly, the ONLY ones who are making this mole hill into a potentially disastrous mountain are...the republican politicians.

If the GOP doesn't start compromising the US could default and everyone, world wide, will be effected. I find it hard to believe that the Republican Congressman & Senator that were voted into office to protect their constituents would allow us to default on paying our debts. I believe they will find a way to raise the debt ceiling. I also believe that it may well be on the backs of the poor and the middle class and the elderly. All of bills presented by the GOP contain huge cuts in medicare and social security.

The US cannot default. Thats all there is to it.

Raising the debt ceiling - seems to be looking more and more like the only option

i just think both parties are playing politics.

the debt ceiling will be raised.

they are just trying to come up with a way to do it that won't cause them to lose votes in the next election.

it's good that you are aware of politics now. so when a solution is arrived and nothing really bad happened then you will understand what political theater is. politics is a grand game and what each party tells the general public is an exaggeration of the truth(including lying) just to influence public opinion in their general direction.

It will we go bankrupted and the government and private sector will be shut down I know people work and they are busy but the ones who don't choose to advocate violence and follow far right extremists like beck, limbaugh, palin, hannity, o'reilly and breitbart government goes down they will be a violent extremist uprising here I suggest you be strong, be careful and not to trust anyone with your life whether you are with the government or against It you are not free best take a stand or the powers of authority public and private will win.

We'll borrow more money ! "A chicken in every pot for everybody" !

Forget it my friend...it is all a scam! SCAM!