Standoff Over $28T of US Government Debt Could Rattle Bitcoin Market — CoinDesk

During the 2011 debt ceiling crisis, the Republicans, the party controlling the Congress, worked with Democrats to raise the debt ceiling only after Democrats agreed to a series of future spending cuts. The debate briefly sent financial markets into a tailspin, and the credit rating firm Standard and Poor’s (S&P) downgraded U.S. debt for the first time in its history, stripping the government of its pristine triple-A rating.