REBELUTIONARY MINDED

Even a temporary default with a brief interruption in payments that Congress subsequently restores would be terribly damaging, calling into question the willingness of Congress to uphold America’s longstanding commitment to meet the obligations of the nation in full and on time.

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http://www.treasury.gov/connect/blog/Pages/Secretary-Geithner-Sends-Debt-Limit-Letter-to-Congress-1-14-13.aspx

The debt ceiling debate is interesting in the sense that it has been consistently raised since Brenton Woods (this took us off the Gold Standard during the Nixon Presidency). These ceiling raises were done without the political theater that we are “enjoying” currently. I can’t quite call it as to why it is so heavily politicized. Obviously, partisan politics is very much in play here as the Republicans are using the National Debt as a crutch against the President. Bottom line here is expect a lot of political shenanigans and a weakening USD.