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geek tragedy

(68,868 posts)
Mon Oct 7, 2013, 12:45 PM Oct 2013

One chart destroys the debt ceiling truthers.



http://www.businessinsider.com/chart-of-the-day-this-chart-destroys-the-debt-ceiling-truthers-2013-10


The first is that legally and technically, prioritization might be impossible.

Here's the other problem. It's not true that on all days the Treasury has more money coming in than it has to pay out. As Goldman Sachs points out, the receipts/payments schedule is lumpy. The U.S. might be able to prioritize for a few days, but come November the U.S. would have to pay way more than was coming in that day, and we'd have a real breach no matter what.


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