In the event the United States reaches the point where government officials warn the country would default, those who have the most to gain from demagoguing the issue will be the least creative when it comes to finding ways to avoid default using current revenues and prioritizing.
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Treasury Dept. likes to say it has no legal authority to prioritize debt payments above other obligations. Misleading. No law says it can't.
— Brit Hume (@brithume) October 3, 2013
Failure to raise debt ceiling would not lead to default unless Treas. chose that. But would leave govt far short of $$ to cover US agencies.
— Brit Hume (@brithume) October 3, 2013
We may find out what happens in just a couple of weeks.
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