Boehner quits debt talks
Boehner quits debt talks
Out of context: Reply #26
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- JSK0
debt talk
- raise debt limit it so us gov can pay for it's bill
- debt limit is a legal bound which us gov can borrow (sell treasuries)
- us gov sells treasury bills to pay for it's bills
- treasury bills are IOUs with interest paid
- us gov has great credit rating and most trusted / safest IOUs
- failure to do so results in bad credit rating
- us treasuries no longer become most trusted / safest investment
- us gov can no longer sell treasuries to pay bills
- us gov will eventually default as it can't sell treasuries- Disagree with 2nd point. It's a legislative guideline. It's not Constitutional.TheBlueOne
- Other than that I'm onboard with ya...TheBlueOne