Not raising the debt limit has NO direct one-to-one relationship to whether or not the U.S. pays it’s debt obligations.
In fact, if the federal government wants to keep the U.S. credit rating where it is it is STILL obligated to pay off any debt coming due and any interest payments on debt that is due, whether or not the debt limit is raised.
Keeping the U.S. credit rating up, when revenue is tight, can be solved by cutting expenses more, without any raising of the debt limit.
Lew is not that much of an idiot, but he expects a majority of the public is ignorant of just what can be done to pay our debt obligations WITHOUT any raising of the debt limit.
98% of the American public wants to see a good-faith effort at cutting spending ... now.
The waste is legendary ... so much could be saved ... even before we have that discussion about what the federal government should continue, or not continue, doing
“In fact, if the federal government wants to keep the U.S. credit rating where it is it is STILL obligated to pay off any debt coming due and any interest payments on debt that is due, whether or not the debt limit is raised.”
Yes, it’s kind of like I still have to pay my credit card company back whether they raise my credit limit or not.