If we default, the damage to the US economy will be permanent. It won't just be a recession, because we eventually get out of recessions. Poverty will explode. This time the US really will become a third world country. And it won't just cause chaos in the US, it'll be world wide. The media should start explaining what a reserve currency is, how the US dollar is basically the only one, and what advantages it gives us (they're huge). Increasing the debt limit costs us nothing, not even money because we can print the currency we repay our debt with. All the Repub hype about economics is, like everything else they say, a lie. The US isn't a family on a budget, it's the foundation on which the world economy runs. Look at it this way, if your family could repay its debt by writing numbers on a piece of paper, would you worry about how much you owe? That a simple version of the reality for the US and our dollar. #