What happens if the US defaults on debt? What are other options?

[robzilla]

So, the USA can raise the debt ceiling or default on debt, right?
What else can be done? Print more money?

[Powerball]

Nothing. The ceiling will be raised.

[RubberKettle]

Before we come to this point Congress will pass a bill which gives 1st priority to interest on the debt and armed forces salary spending. This way we can service the debt and pay our soldiers when the impending Govt shutdown comes.

[unusialsusp5]

or inflation will take hold and gas will go up to 8.00 a gallon and bread 5.00 a loaf...and the us dollar which by the way is worthless only because people accept it is it now usable, but nothing is backing it up..just try to turn in you silver certificates for silver...there isn't any....

[nyed1010]

absolutely nothing will happen. We will continue on with life as always.

[jarvol]

The govenment could always stop spending money. Half of all federal and state spending could easily be done away with.

[AlphaOmega]

The "hunter gather" mentality will have to be adopted again. Survival of the fittest