First, a talking head explains how incredibly horrible it is going to be if we don't do more Ponzi finance and step up the looting of the middle class and the next generation. Please note he doesn't supply any critical thinking and basically doesn't supply any good proof for his assertions:
http://finance.yahoo.com/news/Debt-ceiling-What-happens-if-cnnm-359093306.html?x=0&sec=topStories&pos=8&asset=&ccode=
Here Karl Denninger addresses the same topic, but with actual numbers and calculations you can check for yourself:
http://market-ticker.org/akcs-www?post=189943
Which seems more reasoned and credible to you?
I have come to realize that men are not born to be free. Liberty is a need felt by a small class of people whom nature has endowed with nobler minds than the mass of men. -Napoleon