If we're going to have a debt crisis, let's have it now

The bottom line is that Federal debt will increase until debt holders refuse to hold it.  Postponing the day of reckoning will just make the pain worse.  Let's have our crisis right now.  No increase in the debt limit. Letting the Feds default today when debt is less than 100 percent of GDP will be far less painful than waiting until hit hits Japanese levels of 250 percent.

Let's be men about it - deal with the problem under our watch rather than be the venal cowards that our parents and grandparents were.  No debt limit raise.  Fix the problem now.  Which means:  break it up, break it all up.  Hattip NRO.

Count me in with Mark Steyn and Andy McCarthy: no increase in the debt limit, no way, under any kind of deal. Let’s end the phoniness. (Which is epitomized by the very expression “debt limit.” If Congress can, and does, raise the limit any time expenditures look like breaking through it, in what sense is it a “limit”? The only real limit on how much you can borrow is how much other people are willing to lend you.) The crisis must come, and the longer it’s delayed, the worse it will be.