The Treasury's Dilemma: How to Pay Bills Amidst US Default
TL;DR
As the US approaches a potential default on its debt, the Treasury Department may have to prioritize which bills to pay with the money it has on hand if Congress doesn't act. While some Republicans support payment prioritization to minimize the fallout from a default, experts warn that it would be risky and could lead to economic and financial catastrophe. Treasury Secretary Janet Yellen has rejected prioritization as a responsible solution, and legal action could be taken if certain groups are paid before others.
- If US defaults on its debt, Treasury would have to decide how to pay the bills CNN
- The Economic Consequences of Default Center For American Progress
- KAKE KAKE
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