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The Treasury Department is currently using so-called emergency extraordinary measures to pay down U.S. receipts since reaching the last debt ceiling at the end of July. Extraordinary measures allow the department to both conserve cash and draw down certain accounts without issuing new bonds.
But those measures are temporary and are only forecast to endure until mid-October, according to Treasury estimates.
Members of the U.S. armed services could also see their pay delayed as a result of a default. Lawmakers on both sides of the political aisle recognize that the debt ceiling must be increased or risk economic upheaval. But the two sides appeared far from a compromise as of Tuesday morning.
https://www.cnbc.com/2021/10/05/debt-ceiling-us-faces-recession-if-congress-doesnt-act.html
Comment: Sounds like they (the people that benefit the most from taxes) are scared stiff of a US default. Normally after the disaster of a default the debtor or business changes its name, gets a fresh start, and a good credit rating because no more debt.
Naturally they’d rather let a default happen on its own naturally. Let the good times roll for now. Piss away more borrowed counterfeit money to buy build and do things while they can still “get away with it” like the no doc liar loans, the ’08 crash and bailouts and poor Bernie Madoff until the end.