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Author: commonone ✸🐝🐝 HONORARY
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Number: of 48520 
Subject: Re: OT: GOP, the "blow crap up" Party
Date: 05/15/2023 1:16 PM
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Dope1: The only thing required to avoid default is to make the interest payments on the national debt. That's it. There are no other conditions.

And the credit worthiness of the US is untouched.

Well, no. The federal government first must pay the bondholders who own U.S. Treasury debt, as well as other financial obligations like government salaries and retirement benefits in order to maintain its credit worthiness.

Dope1: 2. If not, why is the debt so high?

Umm, roughly 25% of our total national debt incurred over the last 230 years actually occurred during the 4 years of the Trump administration. During the four years of the Trump administration, the national debt rose by $7.8 trillion. That addition makes up 24.8% of the current $31 trillion national debt.


Dope1: Didn't the Republicans pass a debt ceiling raise already?

Not a clean bill, no. Most republicans would never vote for that bill as a final bill. It's cuts to appropriated programs would cost states and localities (including their states and localities) about $34 billion in 2024 alone. They knew it was DOA in the Senate.
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