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To: 11th_VA

We only default if we fail to pay intetest on the debt.

That, IIRC, has NEVER happened.

We can still make interest payments with revenue coming in.

If the US defaults it’s because Deep State has refused to write the check.


11 posted on 05/22/2023 5:25:52 AM PDT by mewzilla (We will never restore the republic if we don't first secure the ballot box.)
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To: mewzilla

Exactly. Not raising the debt limit is not default; it simply means that the fedgov cannot borrow more and has to go on a cash basis. The administration would have great latitude to decide what to pay and where to trim. The operating deficit is huge and going overnight to a cash basis would be painful but it’s not the end of the world.

In a rational country, debt service would have first call, followed by truly essential services. This is the drill whenever there is a budget standoff leading to a short government “shutdown.” Debt service, national defense, Social Security, Medicare and Medicaid, air traffic control, etc. all continue.

THIS administration? Resettlement of illegal aliens, transexual surgical mutilations and DEI diktats will be safe, but they will go out of their way to maximize pain to the rest of us as an extortion strategy.

If we default on the debt or fail to pay Social Security, it is because Biden has other priorities. Biden is a wrecker.


13 posted on 05/22/2023 5:54:49 AM PDT by sphinx
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