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Tweet by Bob Elliott
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May 11, 2023
#Finance
#UnitedStates
#Governance
Bob Elliott
@BobEUnlimited
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The US will not default once the debt limit is hit.
While its fashionable to breathlessly talk of disaster, it indicates a poor knowledge of the mechanics.
Treasury will prioritize debt payments. The gameplan is in place and has been discussed extensively in congressional docs:
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Frances Coppola
@Frances_Coppola
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May 12, 2023
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This is a really important thread highlighting the fact that for a currency-issuing sovereign, default is a political decision.