In 2011, for example, just going near the debt limit brink cost the government a credit-rating cut (by Standard & Poor’s) that has lasted ever since.

Source: https://www.csmonitor.com/Business/2023/0524/How-much-would-debt-default-damage-US-History-offers-clues?icid=rss

Several credit-rating agencies have said they have put the US on review for a possible downgrade, which would push up borrowing costs and undercut its standing as the backbone of the global financial system.

Source: https://www.theguardian.com/us-news/2023/may/27/us-debt-ceiling-talks-memorial-day-weekend-deal-close