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Reply to "Republicans and the debt ceiling "
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[quote=Anonymous][quote=Anonymous]What happens if the debt ceiling is not raised? Revenues are still coming in. Debts will be paid, and spending priorities will have to be made over the rest.[/quote] That would be illegal. There’s no legal authority to cut off granny’s social security while paying bond holders. And there won’t be enough cash anyway. The fed revenues don’t come in evenly. They come in big chunks at each quarter. They just got one and are now spending it all down. It will be gone in early June. This has been explained so many times that I’m thinking you just don’t want to understand.[/quote]
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