Negotiations continue on Capitol Hill where House Speaker John Boehner is trying to get support for a bill to raise the nation's debt ceiling before next week's deadline.
It is serious business, but leave it to the comics to find humor in the midst of the fiscal crisis.
"Ladies and gentlemen, when you hear your name called, come up here on stage and tell us about your debt reduction plan," David Letterman said.
"Economists are now worried that if we fall into default, then the good name of the United States would suffer in the eyes of the world. Oh, shut up. We lost that fight the day we sent the cast of Jersey Shore to Italy," said Jay Leno.
"Sarah Palin had some thoughts, surprisingly, on the subject. Last night on Fox News, she said that if a deal isn't reached by August 2nd, it won't matter. Nothing will happen. Did you hear that, Nobel Prize-winning economists? Miss Alaska, second runner up 1984, says we're going to be fine," quipped Jimmy Kimmel.
"$14.3 trillion in debt. But there is some good news, we've got 14.3 trillion airline miles and if we hit 15 million we get a free hat," Craig Ferguson said.