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Thursday, October 3, 2013

Refuting the Debt Ceiling Hysteria

Currently I'm working on the Javascript needed to make my retirement calculator work. But in the meantime, here's a quick post.

This represents a drastic misrepresentation of the budget/debt ceiling crisis. The author is saying if the debt ceiling isn't extended and the US Treasury doesn't have the authorization to issue more debt, we'll default on our current debts. This is simply not true.   

This is why: