There will be NO default on government debt backed by interest bearing instruments. There is more than enough tax revenue to cover those payments. The only way a default could happen on those debt payments is if the Treasury IGNORED/REFUSED to pay them. Now on obligations/promises made by the government not backed by any of those previously mentioned ‘instruments’ there can’t be any ‘default’ in the financial sense, only broken promises. Promises/obligations which mathematically were/are impossible to keep over time anyway. Better to face now the reality and the economic pain that must come rather than MUCH greater pain later.
You might be right.
Maybe, though, things will just go SNAP!!
http://westernrifleshooters.wordpress.com/2013/10/15/more-on-snap-shutdown/
Credit: Travis McGee
“There will be NO default on government debt backed by interest bearing instruments. There is more than enough tax revenue to cover those payments. The only way a default could happen on those debt payments is if the Treasury IGNORED/REFUSED to pay them. Now on obligations/promises made by the government not backed by any of those previously mentioned ‘instruments’ there can’t be any ‘default’ in the financial sense, only broken promises. Promises/obligations which mathematically were/are impossible to keep over time anyway. Better to face now the reality and the economic pain that must come rather than MUCH greater pain later.”
lol....you either went to private schools or went to the public schools when they actually taught something other than diversity and homosexuality. and your parents must have told the school nurse to go to hell when she said your a little hyper and I want to put him on Ritalin.