For some reason, the idea of minting a $1 trillion coin as a solution to our debt ceiling is being treated as something other than a huge joke. I can’t begin to conceive of a reason that this could possibly be a good idea except in the “they’re acting like silly idiots so we can too, neener neener neener” sense.
Which is mind numbingly stupid.
So here’s my guess as to what happens if we fail to find a solution and the government can’t borrow: it just shuts down. If it stops paying the EPA and the parks service and all of the other things, it can spend that money on avoiding default.
I don’t think that is a solution. It is also mind numbingly stupid. Just saying, if it comes to it, that’s how I see it playing out.
Which is all by way of saying the debt ceiling is a mind numbingly stupid thing which we ought to eliminate. No congress can bind the hands of any other congress with legislation. If they want to spend less money, they just should just spend less money.
520 Chestnut 
The whole philosophy that they use of “we don’t have to have a balanced budget because we’re the US and can just borrow it all” is frankly insulting to the people. If any business or individual decided to not pay back its debt, they would be in jail.