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 exte

Frances Coppola @Frances_Coppola · May 12, 2023

This is a really important thread highlighting the fact that for a currency-issuing sovereign, default is a political decision.

Tweet May 11, 2023

by Bob Elliott

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