Most people are focused on the resolution of the debt ceiling debate, without thinking about what comes next. In 2011 the debt ceiling debate was contentious, like it is now. The U.S. lost its AAA credit rating. There was fear of recession prior to the deal. Obama accepted a deal with extensive budget cuts. The stock market made the instant decision that it didn't like the deal. The S&P 500 lost almost 20% in a few weeks. Gold and long term bond prices rocketed up. Could history repeat itself. Some think so.