Let the deadline lapse

Like many of you I've been watching this whole debt ceiling argument and frankly I'm frustrated with the Republicans. Sorry but this has been a messed up opportunity to actually reform government.

We could have agreed to eliminate a bunch of dumb tax breaks
We could have agreed to eliminate three or four entire federal departments
We could have agreed to reduce our military bases more, talk about pork

But no we focused on only a few lesser issues. No progress on real cuts, no real progress on raising the age for social security, no real progress on eliminating Obamacare.

Let's let this deadline lapse, let's see what the world looks like next week. Is it that bad to have a nation that can't borrow more money? Isn't that going to cause a reduction of supply, therefore a desire by the Chinese for more and willingness to pay more? Basic economics. I say rates will go down.