Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Normal
Imposing a limitation on the amount of debt to be issued is perfectly legitimate and does not qualify as renouncing the validity of the public debt.At any rate, tax revenues are over $2 trillion annually, more than sufficient to pay the interest on our existing debt. If we "default" (on real debt, not on intragovernmental holdings) it will solely be because Tim Geithner elected to do so strategically.
Imposing a limitation on the amount of debt to be issued is perfectly legitimate and does not qualify as renouncing the validity of the public debt.
At any rate, tax revenues are over $2 trillion annually, more than sufficient to pay the interest on our existing debt. If we "default" (on real debt, not on intragovernmental holdings) it will solely be because Tim Geithner elected to do so strategically.
