>>935796423It'd be quite something if Trump manages to get the world's wealthiest economy to the point where it defaults on its bills, not because the revenue isn't there, but because he can't pay his immediate bills before the money gets here.
Everything about this situation is unusual. That's why it's so incredulous. Yet here we are. He can't sell short term high interest loans to save his life, so the US government's ability to patch over holes in its cashflow is demonstrably being eroded.
Now for all their bluster about debt, having debt isn't the problem. Selling debt to manage a humongous, complex cashflow is fine as long as the revenue is there. That's standard operating procedure for large organizations.
What is a problem, is when you no longer have access to that credit. Which seems to be where you're headed currently.
Any analyst would call this crazy, until you show them how those debt auctions are going. Even with a firesale he's only managing to cover 30% of his funding requirements. And this situation is still developing, starting back in what, April?
It'd be great if they could get the brain trust together on this instead of drifting off to rants about transsexuals or whining about how it rustles their jimmies if people speak Spanish around them.