The paradox in law is intentional: The debt limit is a manufactured crisis exploited by Republicans to periodically extract policy concessions under the threat of economic crisis.
If the debt limit were reached, the U.S. would default on its obligations set in law (i.e. military salaries and other feds, Social Security and related programs, grants to state police and schools, interest payments on federal debt to retirement plans and other debt holders). This could trigger a global recession.
GovTrack.us /
npub1wu…0kdsg
2023-06-01 11:39:19
in reply to nevent1q…7yx6
Author Public Key
npub1wuhad48t3n98fjwf0g8m06shhq5zvr6svypfpzrlewlmyycpq2fqn0kdsgPublished at
2023-06-01 11:39:19Event JSON
{
"id": "70f7d36dba0e3ddcf22c110c87c53560d7a05122e3c5562717f41217e14f686b",
"pubkey": "772fd6d4eb8cca74c9c97a0fb7ea17b828260f50610290887fcbbfb213010292",
"created_at": 1685619559,
"kind": 1,
"tags": [
[
"e",
"5704aa4c866f7c732da9aad16282f16b8229877ee861e86dbdf348387b8b16cc",
"wss://relay.mostr.pub",
"reply"
],
[
"mostr",
"https://mastodon.social/users/GovTrack/statuses/110468763419675999"
]
],
"content": "The paradox in law is intentional: The debt limit is a manufactured crisis exploited by Republicans to periodically extract policy concessions under the threat of economic crisis.\n\nIf the debt limit were reached, the U.S. would default on its obligations set in law (i.e. military salaries and other feds, Social Security and related programs, grants to state police and schools, interest payments on federal debt to retirement plans and other debt holders). This could trigger a global recession.",
"sig": "690714533d4f24674dd51352b16aeef4639d99bc36e4d75dba855300d79bbd24884ae9b332dab38472a6a310b3c4ffac5537e851c782007975ccfc0741c3f2b3"
}