I am not someone who understands global economics. But from what I understand based on a 10 minute read is that it's something thats raised every so often and there is a political debate on why it's bad for everyone. Why would the impact of something thats regularly done be worse than other times ?

There's no free lunch right? Someday someone will collect the bill. I don't know what the some day would be and who the someone is.

Nothing. Run off the mill political spectacle and shameful pork-barrel bargaining at this point.

the main impact is further institutional distrust from a US public already tired of the pantomime

Increased interest payments. The government is borrowing money to pay the interest on previous debt ceiling rises. Ok, it's more complicated than that. The bottom line is that the USA is importing more goods and resources than it is exporting.

The USA's Gini Coefficient has been trending upwards for decades. Not encouraging for those who are not amongst the top 0.01%.