"Despite that once-unthinkable possibility, financial markets appear calm. The stock market has not crashed, and interest rates have held steady. Still, one indicator is showing that investors are getting nervous: The cost of insuring U.S. government debt against default is starting to spike." NPR, July 25, 2011Congress Should Vote on Raising The Debt Ceiling to Make Each Congressman go on Record!
There is no legal tie between passage of the debt ceiling and reducing the federal budget.
Members of Congress are threatening not to increase the debt ceiling unless the federal budget is reduced
Therefore, if a financial disaster occurs because of Congress failing to raise the debt ceiling, all members of Congress who fail to vote in favor of raising the debt ceiling shall be recalled.