Skip to main content

View Diary: There will be no default on the national debt (113 comments)

Comment Preferences

  •  Yes, problems (5+ / 0-)
    Recommended by:
    lunachickie, jfromga, Fury, ferg, Odysseus

    Unless the U. S. is actually balancing the budget or running a surplus, the amount of debt must always be increased to cover the spending Congress requires in excess of the amount of revenue Congress authorizes.  Thus, the debt ceiling kicks in.

    As Treasury bills, notes, and bonds reach their maturity date they must be paid off.  Often new debt is sold to generate the money to pay off the mature debt.  This is roll over.  This does not increase the amount of debt.

Subscribe or Donate to support Daily Kos.

  • Recommended (127)
  • Community (60)
  • Media (32)
  • Elections (32)
  • Trans-Pacific Partnership (30)
  • 2016 (29)
  • Law (28)
  • Environment (28)
  • Civil Rights (26)
  • Culture (24)
  • Barack Obama (24)
  • Hillary Clinton (23)
  • Republicans (22)
  • Climate Change (21)
  • Science (21)
  • Labor (19)
  • Economy (19)
  • Josh Duggar (18)
  • Jeb Bush (18)
  • Bernie Sanders (17)
  • Click here for the mobile view of the site