American Debt Ceiling

I can't understand what all the hassle is about, year after year, over America having to raise their debt ceiling limit. They need loads of money to carry on with their World Domination Tour which, so far has been a pretty dismal failure.
America is currently involved in eleven Wars, but only admits to being in four of them!!  They have lost in Iraq and Afghanistan. The attempts to destabilise the top of Africa, along the Mediterranean coast, has failed too. Now, it appears that Israel is still determined to drag America into a long protracted War with Iran, which I feel, even the american Government have no stomach for never mind the people. Iran could just be the beginning of Vietnam style protesting,two generations onward.
So they have to borrow more and more money. Just who has it all in any case?? China is certainly rich. the Middle East has money, tucked away, too. So we get this brinkmanship over raising the ceiling which must rise by Friday in order for various Laws to come into play. are some Senators just holding out for their special projects to get money before they will vote? They all seem to like a bridge to nowhere, or a highway to a State border which meets a dead end, with their name on it.!!
The ceiling will be raised at the eleventh hour and what difference will it all make in any case? America can barely pay the interest never mind the principal of all the loans. Just what would happen if all loans were called in at the same time?  Would Alaska be sold back to the Russians? Just how do you foreclose on a country??
It really is a joke, a very bad one, indeed.