Comparing 2011 and 2013 U.S. Debt Ceiling, Very Similar

1446 4 14
EVENT! We are at the resistance line that the DOWT has struggled with for several years.
Hitting the debt ceiling would be much worse than a government shutdown

Let’s assume, for a moment, that the Treasury Department actually can choose which bills to pay and which to ignore. That assumption is legally, technically and politically questionable, as Brad Plumer explained. Note that the one time we actually did default on our debt, it was the momentary result of a computer glitch, and the markets freaked out. The idea that we’ll simply rewire all our payment software over the next month so we can pick and choose which payments to make and we won’t see even the slightest problem requires a faith in government IT departments that I find surprising coming from the Republican Party. But ignore all that. Would the markets really be so calm in the face of the United States government doing something it has never done before and purposefully breaching the debt ceiling? The investors I asked pretty much laughed in my face.

Ever since the United States officially hit its $16.5 trillion borrowing limit on Dec. 31, the Treasury Department has been taking a slew of “extraordinary measures”—such as tapping its exchange-rate funds—to make sure the government has the money to meet all of its obligations. But, according to a recent report from the Bipartisan Policy Center, these measures will only last until Feb. 15 or so. After that point, the risk of missing a payment becomes real.

Last week, Senate Democrats sent the president a letter urging him to “to take any lawful steps to ensure that America does not break its promises and trigger a global crisis — without congressional approval, if necessary.” Yet the White House has insisted that it has neither the authority nor the ability to do so. It has ruled out options like minting platinum coins or invoking the 14th amendment to circumvent the debt ceiling.

“There are only two options to deal with the debt limit,” said White House press secretary Jay Carney on Saturday. “Congress can pay its bills, or they can fail to act and put the nation into default.”

Very interesting
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out