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To: Kennard
how can the government pay its bills? Prioritizing won't work, since you must spend $310 billion per month.

Default has a specific meaning, and it does not include total govt spending. It is only the servicing (interest) on the debt already accumulated.

If we don't pay salaries, benefits, etc, it is not technically default. obombers is trying to convice the liv otherwise.

10 posted on 10/08/2013 1:38:23 AM PDT by quimby
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To: quimby

No— the other issue is the US must redeem T-bills that mature this month— not sure how much that is, but it’s probably far more than the tax revenue coming in.


18 posted on 10/08/2013 7:36:41 AM PDT by pierrem15 (Claudius: "Let all the poisons that lurk in the mud hatch out.")
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