What's the worst that could happen if the US defaults?

Started Oct 10, 2013 | Discussions thread
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Don_D
Don_D Forum Pro • Posts: 17,146
Re: What's the worst that could happen if the US defaults?
2

john9001 wrote:

The US govt is getting $250 billion this month in taxes and fees, the interest on the debt is $18 billion, the only way to default would be for the president not to pay the interest.

Congress controls the Nation's purse strings, not the President.

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