This piece provides a good description of how dysfunctional US government has become for ordinary citizens and very functional for the class that "owns" the economy and controls the government.
The pantomime of debt ceiling meetings, debates, proposals, and votes, is made almost meaningless by the inability of Congress or the White House to effect any reform of their political system. The system is now designed to provide maximum benefits to the wealthy and to corporations, and to prevent any back-sliding in case the Congress wants to remove these benefits. Significant revenue cannot be raised because Republicans in the House will never countenance an increase in taxes. Real savings cannot be achieved through closing off corporate loopholes because the lobbyists for these corporations will threaten to withdraw campaign donations for the offending Congressmen.