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re: What Actually Happens Oct. 17th
Posted on 10/8/13 at 3:30 pm to Meauxjeaux
Posted on 10/8/13 at 3:30 pm to Meauxjeaux
quote:
IMO, there is a very, very, very large chance we will default even given no deal by 10/17.
How do you get that conclusion from those two points? I can almost guarantee that the executive branch wouldn't purposefully choose to not service our debt given prioritization. The biggest threat of a default would be a drastic drop in tax receipts.
1
Posted on 10/8/13 at 4:39 pm to BennyAndTheInkJets
quote:
How do you get that conclusion from those two points? I can almost guarantee that the executive branch wouldn't purposefully choose to not service our debt given prioritization. The biggest threat of a default would be a drastic drop in tax receipts.
I agree that Obama would use his executive authority at some point - but before it got that bad, Treasuries will have already had to have taken a big hit.
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