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To: Hostage

This is BS. Treasury pays interest to the debt with daily tax receipts. It’s the first priority of payments. No action is required by politicians to prevent default.


21 posted on 10/04/2013 5:14:34 AM PDT by Justa
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To: Justa

The federal government has been running a 2 trillion dollar annual deficit. In order to meet other obligations such as Social Security and military spending after October 17, they must either raise the debt ceiling or default on interest payments to the existing debt.

So it’s not BS.


31 posted on 10/04/2013 5:30:49 AM PDT by Hostage (Be Breitbart!)
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