The U.S. treasury bond is the world standard. All other bonds are tied to it. If the U.S. delays paying a debt, no one will react. They will act as if we are a special exception to the rule. They will believe that we will pay the debt in the future and correctly attribute it to political wrangling. The reason? We are the exception to the rule.
We acquired this privileged status after World War II when we became the top dog that plays policeman around the world and protects freedom and democracy. All other countries, including our former enemy Germany, depend on us. The only alternative to trusting us to pay our bonds would be world chaos and the lead up to World War III.
Since the newspaper reporters don’t want World War III, they ought to behave more responsibly when reporting that August 2 will be the day the world ended if we don’t raise the debt ceiling.