Quote Originally Posted by Thormaturge
Without an increase the US will not have the cash to pay everyone.
but they have the cash, they are just not authorized to spend it

Quote Originally Posted by Thormaturge
The "congressional dispute" is over whether the US should increase its debt ceiling or remain within current constraints.
exactly, it's a "political" limit and therefore a political default or political bankruptcy

the good news is that Obama can use some kind of emergency executive order to spend the cash and tell Congress "fuck you"

he won't do it though,

it's a political battle, not a financial one