Originally Posted by dvrich
So where did you study macro economics? There is way more to this problem than a possible default.
Once again, the government will not
default. Do you know what a government default is? It's the inability to pay the interest owed. The US treasury owes about 30 billion a month in interest, yet brings in roughly 200 billion a month. Yes, the US treasury will begin to prioritize it's payments on the debt, but payments will continue to be made. People will still get their SS and Disability benefits and the military will still be paid. I agree that there are more problems then the myth of a default.
I think ultimately the debt ceiling will be raised, but there will be a lot of cuts in spending (which there absolutely HAS to be). Hell, the libs like to bring up how good the economy was back in the Clinton years, why not use the same spending plan that the US was using then with the exact same figures?
92 Ford Ranger Supercab XLT 4X4.
Not a ton done to it, but it's nowhere near finished
05 Chevy Silverado 1500 W/T 4X4
Way too much done to list and it's also not even close to done
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