I hope McCarthy stick to his guns and don't back down. Only time will tell,and beside if the US defaults what's the big deal.
I hope McCarthy is smart enough to realize that if he is unwilling to compromise, he will lose. That will split the GOP in the house and allow the Dems to push through their own compromise, which certainly won't be beneficial to anyone but the DNC.
What's the big deal ? How about higher interest rates, higher prices, interruptions in govt. services ( that might be desirable temporarily), market sell off, a run on money markets, gold sell off, possible credit downgrade.
It is in fact a big deal.