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The $14 trillion was known for the last year.
Euro issues the same.
Why didn't the markets tank.

For the first time in memory they left the debt ceiling go to the last second to bring it to our attention.

Nice political statesmenship though to put the fear of god in people.

Problem reaction solution

If they want to cut the deficit they can cut back military spending which runs close to a Trillion a year, ain't going to happen.

For growth the accelerate you need new credit to keep the system going.

As long as rates are low the debt is an non issue, debt repayments
are serviceable. Why did Ben state interest rates will stay low for two more years.

If rates rise their gone. Higher debt repayments with higher taxes to subsidies the difference.

I have said it before debt in 90's was 5 trillion. Today it is 15 trillion yet debt repayments are lower now due to 0% interest rate.

Problem reaction solution. Watch this space

Cheers