Remember how we were told the market would panic and the world would slide back into economic recession (it never actually left) because we were approaching the “deadline” (which the Treasury has already moved) without a deal to add another $2 trillion+ to the national debt?

Yeah, well, Asian markets are the first to open after a massive breakdown of debt negotiations in Washington over the weekend. How are they doing? They’re slightly down. About .81%, or 82 points. But markets have had bigger dips on bad economic data or housing sales reports than they’re experiencing now over debt negotiations.

So much for the marketapocalypse.

We’ve already learned that Social Security checks will continue to be delivered if the debt ceiling is reached without a deal, and that the Treasury would have enough money to service the debt for quite some time after the ceiling is reached. And as long as we’re servicing the debt, we’re not defaulting on it. We’re simply not adding any more.

Don’t let the left terrify you into accepting a clean increase.

These same people told us a failure to spend $820 billion would result in prolonged high unemployment. We spent the money and we still have 9.2% unemployment years later. These same people told us “millions” would suffer if the auto makers went into bankruptcy. We bailed them out for billions of dollars and they went into bankruptcy anyway.

Meanwhile, Europe has been “saved” through massive bailouts and yet Italy’s banks are being dumped for a second straight day. So much for new debt and massive bailouts saving the world from economic catastrophe, huh?