One cannot begin with a false premise and expect any correct assumptions as a result.
This notion was of high significance: if this failed to pass the Treasury warned that it would run out of funds by 18 October.
As the issuer of a sovereign fiat currency the federal government cannot "run out of funds" from an operational perspective. It is only the presence of legislation from the gold standard era that limits its spending. In other words, the debt limit creates the debt limit with no functional purpose except political grandstanding.
In fact, it is federal money creation that "funds" the bond sales that are otherwise not necessary to enable federal spending. Treasury holds "debt" simply as a way to draw down excess reserves in the banking system and to incentivize savings. The monopoly currency issuer never "needs" its own currency back to facilitate spending.
If the government was to default on its bonds then imagine the GFC on steroids where instead of a bank going under the US government does, taking with it most, if not all, of the world’s credit and stock markets.
No sane politician or party would ever allow this to happen, especially if it only served a political goal. The danger presently is not from actual default, which is only made possible by the existence of outdated legislation, but just such insanity and low information peddlers who drive nonsense theories, such as this one.
Government pays what is called a coupon on it’s debt, basically the same as average Joe’s mortgage payment, and those payments are more than the Governments gets from the loan in the first place.
This is the "household budget" mindset that has held America back and promoted personal debt for things that people in other countries have long taken for granted as "government service". It is false, counterproductive to the purpose of government, and bordering on criminal. It is only so widely accepted because it resonates with the average voter's experience with money as a "user" of the currency and their general ignorance of how our monetary system works.
It is not, and has never been, applicable to the "ISSUER" of the currency, and I believe you know this. If you don't, then you have no business giving advice on the subject. You are promoting the neoliberal concept of austerity politics that is literally killing Americans to make more profit for corporations and pad the pockets of their puppet politicians. That is murder by proxy and should be properly acknowledged by informed people as such.
