Your life's savings will vanish overnight quite literally. Remember in 2011 when they were debating how to pay out Social Security, whether they would have enough money to send out checks to all? They are buying time, it'll be worse next time.
The bickering is all for show to make it look like they are actually doing something. As long as the debt is there and keeps rising there will be more, and more pressure on the little guy. They may come to your rescue, but if it wasn't for them(regardless of political party), you wouldn't need to be rescued.