4min chapter

Open to Debate cover image

Should Congress Abolish the Debt Ceiling?

Open to Debate

CHAPTER

Should Congress Abolise the Debt Ceiling?

A default would have catastrophic impacts in every single part of this country. The longer the breach goes on, the longer and longer people are going to have to wait to get paid. Mark Sandey: My guess is that the President would decide to pay the bondholders first just because if he didn't, there would be instant chaos.

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