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Originally Posted by bobabode
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Wishful thinking. Doubt very many of their constituents even understand national debt, debt servicing let alone debt ceiling and implications of a default. Moneys have been appropriated with Congressional authority and expended, so this now amounts to the Congress now saying you cannot have the money to pay your bills. Constitution does not give them the authority to renege on paying the bills, so I am not even sue there is a methodology to resolve this. Time will tell is not a good answer because we are running out of time, but of course the Freedumb crackers now believe the government have till September.
Adding to our misery, Feds plan on increasing the interest rate by another quarter point next week.