If Boehner avoids default by having the House pass a debt bill for no other purpose but to pay the interest on the debt, then he hasn’t caved or surrendered.
It’s still awful to contemplate that the USA has to go deeper into debt to pay to service its existing debt, but for now if it stops Obamacare, it’s worth it.
On the other hand, if Boehner avoids default by giving Obama what he wants, then yes, it’s surrender and it’s also the death of the republican party. The GOP will still be there for awhile but they will be a shell without substantial support. A new party will be born in my opinion if this surrender by the republican leadership occurs.
This is BS. Treasury pays interest to the debt with daily tax receipts. It’s the first priority of payments. No action is required by politicians to prevent default.
Let’s not forget that there is money flowing in to the FedGov coffers every single day. Millions and millions weekly. “Boatloads” as noted by in-justice Sotomayor.
The obligations of the government are to be first paid, and Zero knows that.
At this point, current inflows may or may not cover that debt service. However, if it does, and leaves excess, then that excess can be applied to current operations, etc.
Is it a bad situation? Yep. Is it likely to get ANY better with ANY of the plans currently under consideration? Nope.
The piper wants to be paid. And, still the pukes in DC fiddle.