Michael Strain on Averting the Looming Debt Ceiling Disaster
Macro Musings with David Beckworth
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House Republicans' Payment Prioritization Plans Aren't That Big of a Deal
House Republicans' payment prioritization plans would also stimulate the Treasury should continue making payments for Social Security, Medicare, and veteran benefits. I think it's extremely excessively optimistic to assume that that would avert other serious effects in financial markets for the United States. If we didn't pay anybody the money that we owe them, including our own our own citizens, it's not at all clear to me that international markets would draw this distinction.
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