There CANNOT be any default, the Constitution forbids it. Instead every possible delay of any or all other forms of payment will be made. The Constitution makes NO mandate about payments the Federal government needs to make OTHER than the U.S. debt, which must be paid (interest owed on the debt). The scare tactic of “default” is just that - it’s not allowed.
“The Constitution makes NO mandate about payments the Federal government needs to make OTHER than the U.S. debt, which must be paid (interest owed on the debt). “
But the US Treasury does:
https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/
“The U.S. Treasury divides all federal spending into three groups: mandatory spending, discretionary spending and interest on debt. Mandatory and discretionary spending account for more than ninety percent of all federal spending, and pay for all of the government services and programs on which we rely.”
The logical start to saving tax dollars would be to shed ourselves of “nonessential” federal employees and most of the discretionary spending.
If we are treading water, why are we spending money on things that by definition we don’t need?
In point of fact, such things as the EPA, NEA and PBS and many of the alphabet lefty organizations eating tax dollars are obnoxious to the average American taxpayer.
So bring on 2014 redux. Last I heard we own the Congress and White House now, so no more whinging excuses from the GOP-e. Granny will get her SS retirement.
All it will mean is that the federal workers and the programs we don’t really need are set aside. Then when enough American producers are fed up, seeing we really don’t need things, these liabilities will be shitcanned.
Let it rain.