commonsense
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- Jul 7, 2011
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This is another Obama lie. Scaring old folks and cripples is not beneath Mr Obama, but would be beneath a President.
With the Treasury having to deal with 3- and 10-year Notes and 30-Year Treasury bonds on August 3, questions about how many creditors will not want to roll over their positions, and questions about daily cash inflows and the overall cash position, I don't believe any guarantees can be made should the nation fail to raise its debt ceiling. Almost certainly, debt-related payments would take precedence over everything else, including Social Security payment, payment of troops' salaries, Medicare payments, etc.