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re: What Actually Happens Oct. 17th
Posted on 10/8/13 at 3:17 pm to BennyAndTheInkJets
Posted on 10/8/13 at 3:17 pm to BennyAndTheInkJets
quote:
Jack Lew has indicated that the Treasury doesn't have the technology in place to easily prioritize payments, although I don't know many people that believe him outside of the 'easily' part.
The Treasury makes 80 million payments a month, and did not design its system with prioritization in mind, and it lacks the authority to go and delete pending payments from the system without Congress telling it to. That means NSF.
1
Posted on 10/8/13 at 3:27 pm to SpidermanTUba
quote:
The Treasury makes 80 million payments a month, and did not design its system with prioritization in mind, and it lacks the authority to go and delete pending payments from the system without Congress telling it to. That means NSF.
As indicated above, the operational ease to pay debt payments versus all the other payments creates a pseudo-prioritization simply from it being the lowest hanging fruit and easiest to handle. It's going to suck for whoever is working the payment systems at the Treasury to manually handle all of this, that is a given, but debt servicing will be the least of that poor bastard's headaches.
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