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View Diary: Fracturing the GOP with a Fiscal Canyon (87 comments)

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  •  mmacd - if the debt ceiling isn't raised (0+ / 0-)

    The Obama administration will need to decide what bills to pay and what payments will have to wait. It will be the administration who has the authority to make those decisions, not Congress. I don't think that is something the administration would be eager to do. The only thing I know is that payments of interest and principle on the national debt will be at the top of the list. The Obama administration would never let the US default on its securities.

    "let's talk about that"

    by VClib on Fri Dec 14, 2012 at 12:16:13 AM PST

    [ Parent ]

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