John Boehner wants to get a deal done. His only problem now is he can't round up enough votes in the House. The best he could do is 217, when he needs 218 to approve a budget and lift the debt ceiling.
Assuming a deal can't be done before October 17, the U.S. will start running short of cash and will stop paying some people. Bond holders aren't due to be paid until later in the month but plenty of others are.
President Obama has said, right from the start, that he would not let the U.S. default. I believe that means he will break the law and order a rise in the debt ceiling. What happens after that is anyone's guess but that's what I believe will happen.
President Obama has said, right from the start, that he would not let the U.S. default. I believe that means he will break the law and order a rise in the debt ceiling. What happens after that is anyone's guess but that's what I believe will happen.
No comments:
Post a Comment