Originally Posted by AustinChief
So not just ignorant but actually stupid? You are so out of your depth on this conversation it is frightening.
It doesn't MATTER who owns the bonds dum dum. We are not saying only pay FOREIGN bondholders. We are saying that as long as you pay all bondholders you don't DEFAULT. We are also not saying an actual default is a good thing. We are saying that if it happens it is because OBAMA chose to default. We have MORE THAN ENOUGH MONEY to pay bond interest. How ****ing hard is that to get?
(This ignores the technical difficulties involved with selective payments)
Agian from the CBO website first link:
On September 25, 2013, the Treasury estimated that its ability to borrow under those extraordinary measures will be exhausted no later than October 17, leaving a cash balance of approximately $30 billion
. CBO currently projects that the Treasury will exhaust all of the borrowing authority created by those measures, as well as its cash balance, between October 22 and the end of the month. (It is possible, however, that the date could fall outside of that range.)
17 trillion in debt, some of it maturing, some of it likely could be to some Social Security recipients, but we will pay only the interest with 30 billion so we won't default. And you expect to cover the maturing bills by issuing more debt: T-bills, but you won't raise the debt ceiling to issue more debt, its why we are defaulting. Forget it dude you are as brain washed as the come, and the best part: its because Obama chooses it. Hahahah. Keep watching your conservative media friend. Swallow that goop.