Would a special master be appointed should the Congress not raise the debt ceiling?
It’s a thought I’ve had.
If the politicians don’t want to come to an agreement, US debt holders could sue the federal government to ensure timely debt payment. They could have a judge a mandate the federal government make make bond and note-holders whole. If the federal government doesn’t have the funding, then a judge could instill a special master, like from academia to decide which programs should be cut and how to ensure all debt holders are made whole in a timely fashion.
I am convinced that politicians don’t want to make any tough decisions anymore, and are more likely to just punt the hard things like actual governing to the courts. While some legislators, especially liberals, might loathe giving up power to conservative-minded courts, it seems like most politicians are more focused on their re-election, and would rather punt the hard questions to the courts, so they can go back to passing message bills about abortion, trans-persons and guns so they have lots of red meat to bring back to the base back home. Maintaining a solid credit rating or even running the country takes a backseat to the latest ideological battle put forward by the politicians.