Bill258 Wrote:
Jan 11, 2013 9:31 AM
Not increasing the debt limit does not mean the U.S. will default on outstanding Treasury bills, notes and bonds. In fiscal year 2012, federal receipts were $2449 billion, 6.8 times the $360 billion interest on Treasuries. There is plenty of money to pay the interest. As existing Treasuries are about to mature, print and sell more Treasuries for the same amount to retire the maturing ones. The national debt will remain the same. newsandopinions dot net