Originally Posted by AustinChief
You have a DEBT default which is what all these conversations have been about and you have a much broader "technical" default which is a default on OBLIGATED PAYMENTS. So you are on the right track with this post... but you ignore the fact that we have enough revenue to avoid even a TECHNICAL default.
Last I checked, keeping the ATF running is NOT an obligated payment.
You are trying to expand default past debt default which is fine (if you specify) but you can't just expand it to include "shit I think we should pay for cuz I want it!"
We have enough revenue to cover the bills for a week to two weeks past the 17th absent a deal.
No deal means a technical default. A technical default means default. No amount of arguing changes that.
Edit: Any type of default will raise US borrowing costs.