The potential loss of the dollar as a reserve international currency is still underway. The ability to protect U.S. global interests will be diminished in this process.
Do not treat unlimited government spending lightly. The repercussions can be extremely serious in matters of our economic and national security.
The debt ceiling question is not itself important. Spending below that ceiling does resolve the problem.
Also, a budget deficit that cannot be overcome without massive taxation is guaranteed to stifle economic growth. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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