Post #111 by bacon on the Macroeconomic Trends and Risks board

Personal Finance Topics / Macroeconomic Trends and Risks ❤

Unthreaded | Threaded | Whole Thread (9)

Post New | Post Reply | Report Post | Recommend It!

No. of Recommendations: 1

There's unlikely to be a default, anyway, unless Yellen and Biden choose to violate our Constitution with their "priorities." The government is required to pay the national debts, and there's plenty of tax revenue under current tax law coming in to make the existing interest and principle payments--thus, no default. There's plenty of revenue left after that to make the military's payroll, and after that to make the existing Social Security and Medicare payments.

It's government contract payments that would be at risk, and that would be embarrassing enough as well as damaging to our real economy. Whether DoD contracts (or which ones) would fall here or fall under provid[ing] for the common Defence could make for some interesting court cases.

Eric Hines

Post New | Post Reply | Report Post | Recommend It!

Print the post

Unthreaded | Threaded | Whole Thread (9)

Prev | Next

Announcements

Macroeconomic Trends and Risks FAQ

Contact Shrewd'm
Contact the developer of these message boards.

A community forum supporting civilized, and highly helpful, self-educating investors that come together for shrewdness and merry spirits. These message boards closely follow the look and feel of the old message boards at boards.fool.com prior to the boards redirected to discussion.fool.com. Shrewd'm is not affiliated with the comprehensive and excellent investment website, The Motley Fool (TMF), in any way. The Shrewd commmunity here has owed, and continues to owe, gratitude to The Motley Fool for nurturing a culture of jovial irreverence towards Wall St, and that tradition will continue here.