Because it's a case of checks and balances and the Treasury simply hasn't got enough gas in the tank to make good on their obligations.Raising the debt limit is insane, as it's just a "can kick forward" for a short period of time.Increasing debt does not solve a debt problem and is akin to extending a credit card borrowing limit to pay off a mortgage.All downward spirals go to zero unless there's effective intervention at "ground zero".OTC Derivatives are what caused a four-year correction into the current Armageddon scenario.OTCs only go one way and that is Up - changing the nominal values are determined only camouflages the "obligations deficit".It does not solve them and are merely Ponzi stooges.
Because of the Government
Big, wealthy corporations moving all those jobs overseas so they can become even wealthier, (i.e. Greed). Sooner or later the rich will learn that they can't continue to accrue more wealth without consumers.