If you can’t get to work you won’t get paid. Wallet is empty, credit card is maxed out, you call the bank and ask them to raise the limit so you can buy gas so you can get to work so you can get a paycheck so you can pay the balance. Ditto eating.
We may have to raise the debt limit, otherwise there may be no money to spend to pay federal employees to do whatever work they must to keep things functioning and to pay off bills and cut expenses. Inability to pay employees is what ended the Soviet Union. We’re coming awful close to that point one way or another.
Our government does not “go to work”, and it is still asking to be “paid”— that is to say funded. The comparison to a credit card stops with the obvious fact that raising the ceiling is being demanded in order to allow more borrowing and NOT to allow a functioning of private markets and real economic growth. That is borrowing from dubious sources overseas who are NOT buying our bonds anymore.
So, then the debt ceiling empowers chicken crap congress to allow printing of more money from the private bank which is the Fed. The same private bank that is shorting our dollar everywhere.
This problem can be solved— the so called stimulus is largely (60%) unspent and is sitting in various banks in the states, awaiting use as a political slush fund. Take back this money and have the US MINT (our printer) print greenbacks, just like Kennedy and Lincoln did. In other words take our money back from the Fed which does not have the US interest in its goals at all.
This STOPS the borrowing. Then the money we do have in the Treasury may be directed to pay the interest we already have.
Cloward Piven plans this economic failure by forcing our government into real true default, brought on by continuous borrowing to pay for government we do not need and to exhaust the ability of government to support the unemployed. Use the fear of riots to continue to raise the ceiling. Lovely.
Ok, so you repeated your same point, Now answer the question. If the debt cannot be paid now then how can it be paid in the future especially after more borrowing. The Time is now for the hard medicine.
By the way the debt can be paid and default is not necessarily the only option right now. Send the monthly revenue to pay for the obligations and cut programs shrinking government back into its Constitutional confines.