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We could demand the Chinese pay us back the $800 billion or so they owe us, and if they still refuse downgrade their credit like they did us. Then they wouldn't be able to buy the American parts they need to make their junk products work.
We could always refuse to pay on all those Swiss and Caribbean accounts that are really just tax havens for American corporations and wealthy individuals.
We could ask foreign nations to forgive our debt like we did them, or simply use the Aid they receive to pay them back.
If the U.S. economy fails so does the rest of the world. Debt ceilings credit ratings, government shutdowns? Political jargon and politics. No panic in the streets no global economic meltdown.
It's the other way arround. The Chinese owns almost 1 trillion of US debt. American parts?? Nope, those parts are made in China as well.
The US needs the world more then the other way arround and sure the world economy will be hit hard but would be better off really without.
She's like a harlot with other nations doing it with her, making her rich but now she's getting older and even needs more money to her even more expensive life style, where she even gets more dangerous to get what she wants with her countless of bodyguards (the army).
That said, I wonder if when the US gov. defaults the credit rating agency's in the US would downgrade the US. I don't think so but if so (no downgrade) other nations would get even more suspisious about her honesty and judgement (where she Judge all but not herself).
But hard to say what will happen with a government shutdown, they will just raise the debt ceiling most likely anyways. If not not sure how fast or how worse things get. The army and banks would be ok, but forget stuff like food stamps and perhaps they will take cash from stuff like retirement money.