Question: Michele Bachmann has said that we won't default on our debt if we do not raise the debt ceiling.
Cramer, in guarded tones: I work with the stock market and used to sell bonds. The Chinese aren't listening to Michele Bachmann. They're listening to their bankers, who will tell them to sell off...
Moody's once again reinforced yesterday that you will not get a good rate on your next car, house loan if both sides do not resolve this issue in time. Yes, the person in America who has been most responsible in living within their means will suffer credit-wise if the US's rating drops. Moody is not saying this because of the size of our debt, although that certainly is bad. It is the prospect that the debt ceiling might not be raised.
I don't know who you're listening to, but if they question the above, they are economically incompetent on the highest level and should not be voted for or listened to. They are dangerous!