With banks offering 5% + on 12 month CDs, and similar rates for money market accounts, why not pay to wait? (Debt crisis concerns)

I'm probably too paranoid but...

Looking back to 2011 when we faced a similar crisis, stocks sold off more than 17% and the market was very volatile. Our credit rating was downgraded, things were a mess.

And turning back to today, we have a different Congress with very different politics at play, setting up a much larger potential problem. After looking at Mccarthy's election process, where it took 15 votes to elect as speaker because his party is so divided, to say I have concerns is an understatement. And the fact that he put up a budget that ends any climate change action, rolls back action on student loan relief, and other key Biden agenda goals shows that he's willing to play chicken with the debt ceiling. Biden saying he is not willing to negotiate shows that he's still remembering 2011 and is also willing to see it crash and burn just so he can say "look at what the other side did" so his party can win an election and take back complete power (House, Senate, Whitehouse).

To get a deal done McCarthy would likely have to draft something that a lot of his party won't vote for, turning him to find moderate Dems. With current House rules this would be difficult to pass and set up for a battle over Seakership.

The entire thing is a cluster. The most I can hope for is a deal be pulled out of some idiots ass before default. And that's probably hoping too much.

With Buffet and others holding on to large cash reserves, I may as well protect my pittance.