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Beltway bickering doing permanent damage?

If you're thinking all is well because the debt crisis was averted, Cramer would like a word.

"I know that some people are saying in the end, the fact that we didn't default means there was victory after all," Cramer said.

However, the Mad Money host isn't so sure.




Speaker of the House John Boehner and President Barack Obama.
Getty Images
Speaker of the House John Boehner and President Barack Obama.

Quite frankly, "if I were the Chinese or the Japanese, both of which have more than a trillion dollars in our bonds I would be working day and night to try to figure out an alternative to keeping money with us."

Not only has the full faith and credit of the nation been called into question but the current debt deal only reopens the government through January 15th and it only extends the debt ceiling through February 7th.

Why wouldn't we just end up in the same situation all over again? It's doubtful the acrimony that led to the stand-off will be more easily bridged because of these developments.

"If I were the leader of a foreign nation, I would never own our bonds after this fiasco," Cramer said. "We came very close to sticking it to them."

That's how Cramer views events, not as a victory for democracy but rather as a display of how unstable America could become.

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Lawmakers have called the integrity of our nation into question. That's the outcome.

"Absolutely nothing was gained," Cramer insisted. "Yet much was lost."

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