Anonymous wrote:Anonymous wrote:Just a reminder that defaulting on debt does not “save taxpayers $$.” This is money already spent.
There is no defaulting being discussed. What would happen is the Treasury would not be allowed to borrow beyond a certain limit, so some spending would have to be withheld.
There would be an issue of having to pay debt that rolls over, and then they are not allowed to borrow again to make those payments.
Anonymous wrote:Here we go, folks.
“The Treasury Department on Friday said that it will begin “extraordinary measures” next week to prevent the United States government from defaulting on its payment obligations, as lawmakers in Washington prepare for a potentially devastating fiscal showdown.
In a letter to congressional officials, Treasury Secretary Janet L. Yellen said the administration would on Jan. 19 begin repurposing federal funds to extend the date by which the government will run out of money. Congress must pass a law raising the debt limit from its current total of $31.4 trillion or the Treasury can’t borrow any more, even to pay for spending lawmakers have already authorized.”
https://www.washingtonpost.com/us-policy/2023/01/13/debt-limit-extraordinary-measures-treasury/
Anonymous wrote:Why are these 20 so eager to screw around with that debt ceiling and possibly cause us to default.
Anonymous wrote:Just a reminder that defaulting on debt does not “save taxpayers $$.” This is money already spent.