Author Topic: Here Are All The Things Government Would Have To Shut Down Immediately If We Don't Raise The Debt Ceiling  (Read 1114 times)

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Online mystery-ak

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Here Are All The Things Government Would Have To Shut Down Immediately If We Don't Raise The Debt Ceiling
Joe Weisenthal   | Jan. 7, 2013, 7:21 PM


Let's suppose the GOP doesn't raise the debt ceiling on time.

And let's suppose the administration doesn't try any novel ideas, like invoking the 14th Amendment or using the Trillion Dollar Platinum Coin to get around the debt ceiling.

The best hope, then, is that the Treasury "prioritizes" its payments, so that it honors some things like interest payments, while delaying payments on other stuff that's not so crucial.

So what might that look like?

A presentation from the Bipartisan Policy Center did a good job of looking at what we'd have to give up if we prioritized crucial things like interest payments, Social Security and defense.

There are four slides here. Two sets of two. In each one, the first shows what we could keep spending on, and the second show what we would have to cut.

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Offline evadRē

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Do it now and avoid the rush.

November 6, 2012, a day in infamy...the death of a republic as we know it.

Offline massadvj

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"She only coughs when she lies."

Offline Scottftlc

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This is interesting...they are saying that our ability to create an astronomical and ever-increasing amount of debt equals our ability to survive as a political entity, a nation - in peacetime.
Well, George Lewis told the Englishman, the Italian and the Jew
You can't open your mind, boys, to every conceivable point of view

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What in hell would we do without Stephen Chu and the Dept of Energy, or
Lisa Jackson and the EPA, or Eric Holder and the DOJ, or a big budget item and the most dangerous:  the NEA?

Do it!

Offline Oceander

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I agree with everyone else:  Do It!

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