[quimby]

T-Bills come with maturity dates-- that means not only the interest but the principal is also due that month, and that (I think) is where the problem lies-- if we can't borrow more money to pay off the principal on the notes due when they are due the we are in default.

Its called float. Ever send out a check before the paycheck comes in? Businesses, individuals and governments do it.

[pierrem15]

They only way they could do that is to get the Fed to buy the T-Bill held by someone else first and then buy another T-Bill from the US once the first is “paid-off” with newly printed dollars.