Originally Posted by
excon
Hello again, tom, Tea Party default denier:
Uhhhhh, no. If that were the case, we wouldn't be running a deficit. We DON'T borrow just IN CASE we don't have money on a given day. We borrow because we KNOW there are days when we DON'T have money.
If the debt ceiling isn't raised, on THOSE days, we DEFAULT!
Besides that, apparently you envision that we pay our bills like YOU do.. We sit at the kitchen table and write checks. If we need to wait a day or two to make sure we have the money in the account for a particularly large bill, we CAN..
But, the government pays its bills by computer. These are BIG bills too. We can't just jump in and reprogram the whole thing... We CAN'T. We absolutely CAN'T.
excon